#FedHikesBackOnTheTable 🚨 Fed regime shift just changed the macro landscape. Warsh was sworn in as the 17th Fed Chair on May 22 and immediately signaled a more restrictive, reform-focused Fed. Less forward guidance. Less policy cushioning. More uncertainty for risk assets. At the same time: • Waller turned hawkish • Michigan inflation expectations jumped to 4.8% • Futures now price a possible 25bps hike by year-end • 30Y yields just hit highs not seen since 2007 That’s not a bullish liquidity backdrop. MARKET PSYCHOLOGY 🧠 For months, traders were conditioned to expect cuts. Now the market is slowly realizing: rate cuts are no longer guaranteed. That shift matters more than headlines. Gold pulled back. $BTC pulled back. Risk appetite is starting to weaken under higher yields. SMART MONEY FOCUS 👀 Watch: • Bond yields • DXY strength • ETF flows • Funding rates • Liquidity conditions Because if yields continue climbing, overleveraged longs across crypto could unwind aggressively. This is becoming a macro-driven market again. Personal methodology only. Not financial advice. DYOR. $BTC $ETH #TrillionDollarIPOs #SECTokenizationDelay