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💵 USD LIQUIDITY IS THE REAL BTC RISK The biggest risk for $BTC may be dollar liquidity, not price. RRP is nearly depleted, TGA is rebuilding, and bank reserves remain under pressure. Tighter liquidity can weigh on $BTC through TradFi flows and funding costs, while $ETH faces higher DeFi borrowing costs and weaker on-chain leverage. The key question: Where does the next dollar go? 👀