"Don't fight the Fed," especially with high-beta, volatile, correlated stock puppets like Bitcoin (cryptos), and gold, copper (metals), may be the look-back lesson of 4Q. The iShares Bitcoin Trust (IBIT) trades about 3x the volatility of the iShares 20+ Year Treasury Bond ETF (TLT), and the IBIT/TLT ratio appears to be rolling over from a base of 100 at the end of 2024. We recently flushed out some of the leveraged longs in US Treasury bonds and shorts in Bitcoin. It might be the foundation for a potential move of a lifetime that is simple mean reversion. A Bitcoin $10,000 Reversion Path Could Trigger Tumbling Dominoes Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tmzt58kijh8n {BI COMD} #Bitcoin #bonds @BBGIntelligence