Bull Case
The liquidity in Federal Reserve's $2.5T REPO cash sponge has been almost completely squeezed out. The balance has dropped by 99%, leaving only $22B. [WRESBAL ($3.3T) is the next liquidity sponge that will be wrung out by inflation denial, BTFD!]
🚨In the week to August 27, WRESBAL went down by almost $100B from 3,317B to 3,224B [As real rates go down with inflation, WRESBAL's $3,3T starts flooding the markets. BTFD!]
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Bull Case
🚨THE TRUE BULL HASN’T STARTED YET (exclusive analysis by @bullcase) We define capital utilization as the amount of outstanding loans divided by the total deposits across all defi lending protocols on a given date. Since 2020, capital utilization in DeFi lending…
🚨In August, DeFi liquidity utilization rate tapped 41% for the first time since 'Liberation Day' (the highest level seen in 2025) and is still trending higher. Onchain leverage is breaking out and risk appetite is reviving. Green pastures lie ahead for bulls. [BTFD before it's too late!]
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🚨NYC based attorney John Polonis: It will be difficult for the U.S. Supreme Court to overturn the rejection of Trump's tariffs at the appellate level.
*Trump tried to justify his imposition of tariffs under the IEEPA, the appellate court ruled 7-4 that the tariffs are illegal
*The IEEPA is an emergency law that was designed to impose economic sanctions in response to threats against the U.S. As the court noted, it makes no mention of tariffs
*The court was also skeptical that Trump can use 'national security' to bypass separation of powers and limits on executive power.
*It will be very hard for SCOTUS to overcome the constitutional arguments at the appellate level unless they're willing to further reveal the extent of they're willing to go to protect this President.
[If tariffs get smacked down by SCOTUS gold will dump hard. Buy the crypto dip before it's too late!]
*Trump tried to justify his imposition of tariffs under the IEEPA, the appellate court ruled 7-4 that the tariffs are illegal
*The IEEPA is an emergency law that was designed to impose economic sanctions in response to threats against the U.S. As the court noted, it makes no mention of tariffs
*The court was also skeptical that Trump can use 'national security' to bypass separation of powers and limits on executive power.
*It will be very hard for SCOTUS to overcome the constitutional arguments at the appellate level unless they're willing to further reveal the extent of they're willing to go to protect this President.
[If tariffs get smacked down by SCOTUS gold will dump hard. Buy the crypto dip before it's too late!]
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🚨US holiday spending set for steepest drop since pandemic. PwC, which polled about 4,000 consumers between June and July, said shoppers on average plan to spend about $1,552 per person, down 5.3% from last year. The last comparable decline was in 2020, when average spend fell 7.6% to $1,187.
[There is always a shitcoin for every budget. BTFD before retail starts aping!]
[There is always a shitcoin for every budget. BTFD before retail starts aping!]
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Bull Case
🚨The MOVE index continues to gravitate lower. Inflation becomes a problem only when inflation expectations are high enough to affect the long end of the curve, which is when MOVE starts spiking higher. For as long as MOVE doesn't bottom, we're at least 2…
🚨The MOVE index hasn’t set a new low since August 15, closing yesterday at 85.28. With money also flowing out of the long end, it looks increasingly likely that Jackson Hole marked the peak of the Fed’s dovish rhetoric. [At least 3 months of bull left from here, BTFD!]
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🚨The JOLTS (Job Openings) report came in soft, with 7.18M openings in July vs. 7.4M expected. The 2nd sub 7.2M print since 2020.
*Ratio of job openings to unemployed workers fell to 0.99, the least since Apr 2021. At its peak in January 2021 it was 2.
[September cut looks locked in, BTFD!]
*Ratio of job openings to unemployed workers fell to 0.99, the least since Apr 2021. At its peak in January 2021 it was 2.
[September cut looks locked in, BTFD!]
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Bitcoin/Ethereum Spot ETF Flows: 3 September 2025
🟢Bitcoin ETFs: $300.5M net inflows
🔴Ethereum ETFs: -$38.2M net outflows
[Buy the crypto dip!]
🟢Bitcoin ETFs: $300.5M net inflows
🔴Ethereum ETFs: -$38.2M net outflows
[Buy the crypto dip!]
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Bull Case
The Tariff/Trade War Bull Case 1. Global inflation⬆️=liquidity⬆️=Crypto⬆️ 2. CN¥ ⬇️=🇨🇳capital flight⬆️=stables/crypto⬆️ All you have to do is BTFD for the next 6 months. Don't let Trump's tariff ON/OFF zig zags bamboozle you.
🚨SCOTUS WILL SMACK DOWN TRUMP'S TARIFFS AND EVERYTHING WILL PUMP (exclusive analysis by @bullcase) In April, we stated tariffs would trigger the biggest bull market crypto has ever seen. In a series of posts, we explained tariffs would lead to global inflation and a rush back into USD through stablecoins.
The chart above shows that, from Liberation Day, yield curves have indeed been steepening around the world, confirming that inflation is spiralling out of control. Contrary to the rest of the world, the US long end has held up well until recently, when the MOVE index started rising.
As US long-term notes get cheaper, a counter rotation by big money from gold into USTs begins. This triggers a gold top, and frees up liquidity to cascade down the risk curve into crypto.
Trump's tariffs always rested on shaky legal ground. Yesterday, he asked SCOTUS to fast-track review of the ruling that struck them down. We believe SCOTUS will either decline to take the case or uphold the Federal Circuit's ruling.
The chart above shows that, from Liberation Day, yield curves have indeed been steepening around the world, confirming that inflation is spiralling out of control. Contrary to the rest of the world, the US long end has held up well until recently, when the MOVE index started rising.
As US long-term notes get cheaper, a counter rotation by big money from gold into USTs begins. This triggers a gold top, and frees up liquidity to cascade down the risk curve into crypto.
Trump's tariffs always rested on shaky legal ground. Yesterday, he asked SCOTUS to fast-track review of the ruling that struck them down. We believe SCOTUS will either decline to take the case or uphold the Federal Circuit's ruling.
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🚨Labor market growth slowed in August with US adding just 54,000 jobs (106k previous)
[Big hot money is selling gold for treasuries now, which they will flip to banks once Powell cuts rates in 2 weeks. Then all in Bitcoin. BTFD!]
[Big hot money is selling gold for treasuries now, which they will flip to banks once Powell cuts rates in 2 weeks. Then all in Bitcoin. BTFD!]
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