The Federal Reserve's under-the-radar debt repurchase programme — described by some macro watchers as 'not-QE QE' — is drawing comparisons to the liquidity injections that historically preceded Bitcoin rallies. At the same time, Swiss Block's head of macro points to extreme bearish funding rates in BTC leverage markets as a coiled-spring setup: heavy short-side pressure grinding against a price that refuses to break down.
On the macro backdrop, Treasury Secretary Scott Bessant's 'Operation Economic Fury' — secondary sanctions targeting Iranian oil payments and IRGC accounts — is accelerating the case for sovereign Bitcoin reserves as nations seek censorship-resistant assets outside the dollar system. Governments and nation-states are increasingly asking why they don't hold BTC.
Not everyone is calling for immediate liftoff: some analysts still see a lower low as probable if price…