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BTC broke $80K overnight. Close to the level we flagged 2 weeks ago. But here's what almost nobody on CT is connecting. Powell exits the Fed this month. Warsh steps in. And he's walking into the worst macro setup any incoming Fed chair has faced since Volcker. Look at this chart. ISM Prices Paid just hit 84.6, the highest reading since August 2022. Manufacturing growth is steady. Input costs are exploding. That's textbook stagflation, and it's intensifying right as the Fed transitions. Warsh has been on record for years calling QE "reverse Robin Hood." But he's also the guy Trump picked specifically because he's expected to cut rates. Either he holds the line and breaks the market, or he caves and prints into stagflation. Both paths are bullish for BTC. ETF inflows are now five straight weeks. $153M last week alone. Saylor holds more BTC than BlackRock. $200M in shorts liquidated overnight. The institutional bid keeps showing up while everyone else is debating Fed politics. $84K is the next level on the CME gap. After that, we're in price discovery for the first time since January.

$BTC $80,000 today.

$BTC is currently testing the crucial resistance at $79,000–$80,000 for the third time. Third time’s the charm.

$BTC continues to underperform significantly compared to the stock market. In the short term, however, it is following the chart shared on Monday to the letter: consolidation at these levels could be healthy, especially if accompanied by a break above the structural lows (m low), which would pave the way for a bullish continuation. At present, price action on altcoins is insignificant: volumes are weak and the dynamics are unreliable, almost ‘noisy’. To trade with greater confidence, only one thing is needed: the return of genuine buyers and an increase in volumes. Only then can we expect clean price action and more solid opportunities.