Everyone is buying the $BTC dip at $70K. The macro data says they're early.

The bull case looks tempting — low sentiment, $70K as support, contrarians want in. But the data doesn't support a recovery yet.

The Fed just turned explicitly hawkish: higher inflation projections, fewer rate cuts. That removes the primary macro driver behind crypto's 2024-2025 run.

$400M+ in liquidations just flushed. That's leveraged longs capitulating, not a clean reset. Alts bleeding harder than $BTC points to broad risk-off rotation.

Last time the Fed held hawkish with similar language, markets spent months consolidating before any real leg up.

At what price does the macro headwind stop mattering to you — or do you think $400M in liquidations already cleared enough leverage for a bounce to stick?