Is $BTC approaching a turning point soon? Three weeks ago, when $BTC just started to rise, many people were shorting it. At the time, we talked about how, from a time perspective, the rally could last until mid-to-late September when the liquidity test would bring a significant correction. Now that we’re heading into mid-September, the test is indeed here: 1) Oil prices have climbed above $100; 2) Long-term bond yields have reached over 4.8%. The pressure on risk assets is definitely increasing, especially for assets like $BTC that are closely tied to liquidity. If tonight’s and tomorrow night’s August PPI and CPI numbers don’t come in significantly below expectations, it’s likely that $BTC will start a meaningful correction. As we discussed before, the rally that began on August 19th was meant to give us structural optimism, not blind pessimism. From a personal perspective, we should cherish the opportunities to buy the dip and add to positions. As I mentioned back in mid-June, the period between June and November is, from a macro perspective, the time window for allocation and building positions: https://(x.com)/qinbafrank/status/2076212081032856062?s=46&t=k6rimWsEbo2D2tXolYcM-A