X @Doctor Profit 🇨🇭

Market Liquidity & Potential Risks - Reverse Repo (RRP) usage has collapsed by 99% from a peak of $22 trillion to $8-10 billion, signaling a potential liquidity crisis [2] - The belief that $7 trillion in Money Market Funds (MMFs) will flood into equities or crypto is false, as MMF capital flows into T-Bills, repos, or the Fed's RRP facility, draining liquidity from the real market [3] - US banks hold approximately $395 billion in unrealized losses, potentially pressuring balance sheets [4] - Insider selling has reached its largest amount in the last 2-3 years, coinciding with significant retail investor inflows, a potentially toxic mix often seen at cycle tops [7] Crypto Market Analysis - Large wallets have slowed selling since late September, and short-term holders already capitulated in August–September [4] - Bitcoin has never decoupled from stock-market liquidity; a repo-driven shock in equities could initially cause BTC to dip before benefiting from a post-crash liquidity wave [4] - Leveraged longs are at cycle highs, while liquidity is collapsing, mirroring the delusion seen before the 2022 crash [4] - A massive bearish divergence is forming on the weekly chart, similar to the divergence that preceded the end of the 2021 bull market [4] MicroStrategy (MSTR) Analysis - MicroStrategy raised its preferred-share yields from 10% to 1025% (up from 9% only weeks ago), indicating potential funding strain [6] - Constant share dilution has caused MSTR's mNAV premium to underperform BTC by approximately 25% in 6 months [6] - Without fresh inflows, MicroStrategy's structure risks becoming a closed-loop Ponzi flywheel, similar to Terra/Luna [6]