hyperliquid:native just broke into price discovery while Bitcoin sits -40% off its highs. You do not have to hold HYPE for this to matter. We've seen this exact setup before. In 2019, Chainlink went into price discovery while BTC was down -50% and altcoins looked terrible. That move landed right at the intersection of: - PMI flipping from contraction to expansion - The post-QT dip - A business cycle reversal We are standing at that same intersection right now. QT ended December 1. PMI just turned into expansion. Russell 2000 and S&P 500 in price discovery. Copper/gold reversing. And HYPE is doing almost exactly what Chainlink did heading into the last cycle. Again, you don't have to hold HYPE for this to matter, it's a leading indicator, and right now it's pointing in one strong direction. Bitcoin can still flush lower near term, so be careful. But on the macro, the picture is getting clear.(Dan Gambardello)