This is an interesting week. Market signals are mixed, but telling.

🚦 Fed holds, but cuts still expected
🚦 SNB pivots with first G10 rate cut (0.25%)
🚦 S&P futures flash crash ~$600B
🚦 Consumer sentiment & AAII bearishness at multi-year highs
🚦 Gold hits ATH
🚦 #Bitcoin $BTC rejected at $85K, ETF flows still net positive

So what does it all mean?

💡 Macro easing is brewing quietly, but market internals remain fragile, leading to confused price action: up on narrative, down on positioning.

💡 AAII bearish sentiment at decade highs while S&P is just -7% off ATH. This is a classic contrarian signal. Historically, that’s when explosive rallies begin. Smart money buys fear.

💡 Bitcoin remains structurally strong but tactically volatile. It doesn't seem weakening, but consolidating under resistance while absorbing sell-side liquidity.

💡 Meanwhile, gold’s breakout is the first wave of the liquidity pivot narrative. $BTC will likely be next, with ETF inflows and halving catalysts stacked behind it.

💡 $BTC lagging gold isn’t a red flag, but an entry signal.