Interest rate hikes, immediately leading to four days of ETF outflows totaling over $400 million—this proves that institutional funds remain highly sensitive to policy signals. The current price stabilizing above $80k is not a confirmation of macro liquidity easing, but rather a temporary respite amid policy expectation battles. The stablecoin market cap reached a historical high of $31.5-31.6 billion in Q1 2026, indicating that capital has not truly left the crypto ecosystem but has defensively shifted into dollar-pegged instruments, waiting for directional signals. This scale of dry powder provides genuine marginal purchasing power support for any future price breakthroughs.