🚨🚨BTC blasts through ATH

🚨US Rep. Lawler: Made great progress on tax bill, waiting for details.
*Lawler: Feeling much better about tax bill now.
[Tax cuts are a done deal because without them Trump's tariffs create drag on growth.]

Yields breaking out. Stablecoin put incoming. Market is risk on. Buy moar.

🚨US 20-Year Bond Auction: Accepted yield 5.047% vs 5.035% when issue yield.
*Bid-to-cover ratio 2.46 ($2.46 bid for every USD offered, weak)
*Amount: $16bn

An ugly 20Y US bond auction is bullish here, not bearish. Macro Panicans are selling, you should be buying. [BTFD]

US Bitcoin spot ETF saw a net inflow of $608.99 million on 21 May 2025

US House Rules Committee approved Trump's sweeping tax-cut bill which is now scheduled for a vote in the full House in the pre-dawn hours of Thursday. [This is Trump's Big Beautiful Bill without which tariffs create recessionary drag on the GDP. It will pass in a blink of an eye]

Gold down nearly 1% intraday. [Gold has topped, market is rotating into crypto as inflation hedge]

Nomura: Treaury flows from foreign domiciled funds snap back into negative territory [Moody's downgrade pushing them towards gold right at the top, like clockwork]

Trump's $3.8tn "tax less and spend more" Beautiful Bill clears the full House in a narrow 215-214 win. Senate next. [that's the source of all US deficit macro FUD today. Ignore it all and BTFD]

🚨US Supreme Court signals Trump can't fire Powell
*US Supreme Court on whether Trump can fire members of Federal Reserve's Board of Governors: We disagree. The Federal Reserve is a uniquely structured, quasi-private entity that follows in the distinct historical tradition of the First and Second Banksof the United States. -ruling

EB Research's Jussi Hiljanen: Eroding trust in U.S. policy, unattractive valuations after accounting for FX hedging costs, and a shift towards European bonds are putting structural upward pressure on long U.S. yields. [ignore macro FUD]

US Treasury Sec. Bessent: There is an equilibrium rate for tariffs and I think we will reach that rate.
*Bessent: Tariff barriers or nontariff trade barriers are coming down, so friction is decreasing.
*Bessent: This will lead to several hundred billion dollars a year of revenue, which will correlate to several hundred billion less bonds that
US Treasury has to issue.

SPX on pace for 3rd worst week since September [Macro Panicans are panicking again. BTFD]

Gold down nearly 1% intraday

Peter Schiff: not only will the Big Beautiful Bill not make America great again, but it also continues destructive fiscal policies that, ironically, could be the straw that breaks the camel’s back, triggering a long overdue dollar sovereign debt crisis. [macro FUD, BTFD]

Goldman Sachs sees RMB at 7: for every 1% increase in the Yuan, the Chinese stock market is expected to rise by 3% [there is alt szn even for Chinese stocks, that's how bullish we are]

Trump at the negotiation table

Goldman Sachs: We surveyed nearly 800 institutional investors on the biggest risks they are watching in the next three months, 37% consider trade policy to be the biggest risk throughout summer, followed by US growth (26%) and US deficit (23%). [Institutional investors are in full panic mode, remember to BTFD]