[Fund Manager Warns: Bitcoin Could Plunge Further as $150 Billion U.S. Treasury Operations Approach] Golden Finance reports that a fund manager has issued a stern warning: with the upcoming U.S. Treasury operations expected to withdraw approximately $150 billion in liquidity from the financial system, the ongoing sell-off in Bitcoin could intensify further. 'In my experience, Bitcoin often reflects liquidity conditions more than most other financial instruments. If the U.S. Treasury's settlement operations lead to a liquidity drain, Bitcoin prices could drop significantly,' said Michael Kramer, founder and CEO of registered investment advisory firm Mott Capital Management, in his latest market analysis report. The U.S. Treasury regularly issues bonds and notes to fund government expenditures. When the Treasury sells new securities, it receives cash from investors, which is then deposited into the Treasury's account at the Federal Reserve. All else being equal, this process withdraws liquidity from the banking system and reduces the amount of cash available for other investments. These periodic settlements can cause temporary but significant liquidity drains, especially during periods of large issuance. Thursday: Settlement of short-term Treasury bills, $15 billion Friday: Settlement of interest-bearing bonds, $47 billion Monday: Settlement of bonds, $68 billion Tuesday: Settlement of short-term Treasury bills, $16 billion June 4: Settlement of short-term Treasury bills, estimated $5 billion to $15 billion Markets, including cryptocurrencies, tend to perform better when liquidity is abundant. Even if the liquidity tightening is temporary, investors may become cautious and reduce their allocation to risk assets like Bitcoin.