2026-01-04 17:21:17

The US Treasury account is in distress, and market liquidity was already critically scarce. The Federal Reserve wants to inject liquidity to ease the situation, but the bond market is like a bottomless pit—no matter how much funds are poured in, it can't be filled. Looking at the recent two rounds of short-term US Treasury auctions makes this clear—though the apparent size is over 1600 billion, in reality, nearly 1700 billion was drained directly. After deducting rollover operations, net outflows still exceed 1600 billion.

In a loose monetary environment, this isn't a big deal, but the problem now is that the entire environment is tightening. Liquidity is already tight, and suddenly pulling out such a large amount—how can risk assets remain stable? Bitcoin, as the most sensitive asset, reacts most directly—trading depth has noticeably thinned, and the capacity to absorb sell-offs is severely lacking.

This is definitely not retail investors acting alone. Large institutions are quietly repositioning, with funds flowing into bonds and defensive assets. My market observations feel off—counterparties for buying and selling are decreasing, and the market’s pricing ability is clearly weakening. The bloodsucking effect of the bond market is even more intense than expected, directly freezing the entire crypto market.

This reveals a reality: when macro liquidity tightens, any large-scale capital outflow could be the last straw crushing market sentiment. Don't be fooled by short-term news; the key is to watch where the money is going. Once institutional funds exit and enthusiasm cools, prices will follow downward—there's no escaping that.

Traders need to understand one thing: monitoring the order book is important, but it's even more crucial to lift your head and see the entire capital ecosystem. How much water is left in the pool, where is liquidity quietly being drained—these insights often matter more than technical analysis in determining the trend. The market's fear isn't volatility itself, but the gradual disappearance of liquidity in places you can't see.

BTC-1,94%

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JustAnotherWallet

· 01-04 17:40

The bloodsucking institutions in the bond market have run away, and retail investors should be alert --- Institutions are bottom-fishing in the bond market, it's really terrifying that no one is taking over on the BTC side --- Basically, it's money flowing out, and the most dangerous thing is the thinning depth --- Liquidity is quietly evaporating; no matter how good the technicals look, it's useless --- Watching the market get colder and colder, big players have long switched to defensive assets --- 170 billion directly absorbed into the bond market, the crypto market being frozen is truly helpless --- The current market situation, instead of looking at K-line charts, it's better to observe the flow of funds --- Stop watching the charts; understanding where the money is flowing is the key --- The move of institutions exiting the market hits harder than any negative news --- During macro tightening periods, retail investors are really the last to hold the bag --- Fewer and fewer counterparties in buying and selling, this is a real sign that liquidity is dying --- The bond market is truly a bottomless pit; all our money has been sucked away --- No wonder the trading depth has thinned; it turns out the funds have been quietly shifting away

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Rugman_Walking

· 01-04 17:39

The bond market is really bloodsucking, institutions have long since rotated their positions --- Damn, with liquidity so tight, you're still looking at technicals? Wake up --- Just frozen like that, the depth is gone --- The problem isn't Bitcoin, it's that money is flowing into the bond market --- The invisible liquidity is disappearing, that's the most terrifying --- Institutional exit is the effect of this, retail investors can only take the hits --- Is the bond market's bloodsucking this fierce? Then what are we even playing at --- There's no water in the pool, who should we blame --- Watching the order book is useless, we need to look at macroeconomics, everyone

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GasFeeNightmare

· 01-04 17:39

The bond market is bleeding, institutions are fleeing, retail investors are taking the hit—I've seen this script too many times. Money is flowing into defensive assets, and you're still expecting Bitcoin to have depth? Dream on. The key issue is that no one dares to take the other side of the trade; the number of buyers and sellers is shrinking, and that's the most terrifying part. Watching the market become increasingly thin, it feels like trading in a ghost town. Liquidity is disappearing into unseen places, and we don't even have a chance to react. Don't just focus on the K-line; you need to see how much water is left in the liquidity pool, as that determines the ceiling. Once big institutions exit, enthusiasm cools down, and the price follows, with no suspense.

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