Global liquidity adding another $1T should normally be bullish for Bitcoin, but rising bond yields are becoming a serious problem. Higher yields strengthen the dollar and make risk assets less attractive, which explains why BTC still looks heavy despite more money entering the system. Right now, the DXY around the 99–100 zone feels like the key macro trigger. If the dollar weakens again, Bitcoin probably catches a strong bid fast. But if yields keep climbing and the dollar breaks higher, crypto could stay under pressure longer than people expect. I still think the long-term setup for BTC looks bullish because liquidity eventually finds its way into risk assets. Short term though, macro conditions are messy and volatility probably isn't going away anytime soon. Personally, I'd stay cautiously bullish and keep buying weakness instead of expecting immediate breakout moves.