This is the Most Bitcoin I Have Ever Bought

— Bitcoin has recovered above $60,000 after tagging $58,000 lows; the key question is whether a bottom has formed. Bullish divergences are appearing on both daily and weekly charts, where price tags new lows but momentum indicators show higher lows—a sign that conditions are "getting less bad."

— The U.S. dollar has been grinding higher throughout 2026, damaging overall liquidity and pressuring Bitcoin despite stock market strength. This dollar strength correlates with weakness in Japanese yen and Korean won, particularly as SK hynix (memory chip maker) weakens Korean equity markets.

— Asia is identified as the region of greatest financial risk, with weak Japanese government bond yields and deteriorating Korean currency creating potential spillover effects. Nik is watching for major Japanese government announcements (stimulus, rate fixes, or currency intervention) over the holiday weekend.

— Michael Saylor's STRC preferred shares have increased their dividend to 12% and are recovering toward par value ($100) as MicroStrategy's cash reserves support ongoing payouts. This represents "less bad" conditions forming across multiple asset classes.

— Scott Bessent (Treasury Secretary) and Kevin Warsh (new Fed chair) are working in concert to manage volatility and keep treasury yields stable. Warsh is positioned as "undersecretary of volatility," echoing Bessent's messaging that controlled interest rates and a stable dollar are priorities to support risk markets.

— TBL's proprietary liquidity indicator—built from treasuries, the dollar, interest rates, and volatility rather than Bitcoin data itself—has outperformed buy-and-hold by ~50% in 2026 by timing major moves. The indicator currently signals improved conditions.

— Monitor Asian currency and bond markets closely over the coming days. Japanese government stimulus or currency intervention could signal a shift in global liquidity conditions and potentially unlock Bitcoin upside. Use JPY weakness as a "canary in the coal mine" for financial stress.

— Track divergences across multiple asset classes—not just Bitcoin price. Watch STRC recovery to par, ETF flow reversals, and momentum indicators as they accumulate. These "less bad" signals stacking together improve the odds of a sustained recovery, rather than betting on price alone.

— Stay informed on Treasury yields and the MOVE volatility index (which measures bond volatility). Bessent and Warsh's management of rate stability and controlled volatility is the core mechanism supporting or constraining Bitcoin and broader risk assets. Subscribe to TBL's free weekly macro newsletter for real-time updates.