Trump signed 8 documents in the past 24 hours, the US-Iran memorandum officially took effect, and during the G7 he also discussed trade agreements with Modi.

As a result, the Federal Reserve kept interest rates unchanged, and Trump simply said, "Whatever."

That tone is like you’ve been caught in a bad trade, and someone asks what to do, and you say, "Whatever, it’s not a big deal anyway."

But from a macro perspective, everything seems calm on the surface, while on-chain some people are already quietly taking action.

$UNI Currently, the 24-hour decline is -3.60%; $SOL is at 69.92, down -3.29%.

The pace of the altcoins falling is very consistent, not like big players fleeing, more like liquidity is being pulled in one direction.

I looked through the order flow for a while; not many people are entering, buy orders are sparse, and the probability of price spikes is higher than the trend.

But what really made me frown a little is another matter.

The preferred stock STRC under Strategy, previously closed at $89 in the US stock market, hitting the lowest since IPO, with an effective yield soaring to 12.9%.

The company responded by saying, "Selling $BTC can cover 32 years of dividends"—which translates to, the dozens of thousands of bitcoins that MSTR holds have become a strategic reserve.

Saylor used to shout HODL every day, but now that STRC’s yield has become so high, selling coins to pay interest is no longer impossible.

If the market starts pricing in "MSTR might sell $BTC to pay dividends," then this wave will have an invisible selling pressure line.

It’s not liquidation, not big players dumping, but a signal of passive slowdown on the asset side.

The decline of altcoins is just an appearance; liquidity contraction is the real bottom.

Don’t just look at the K-line for your orders; see who’s selling, who’s holding, and who still has some bullets.

Do you think MSTR will really sell $BTC to pay dividends?
$BTC
#我的Gate交易时刻 #沃什首秀美联储利率不变