Liquidity, liquidity everywhere.
A number of signals are starting to align. US net liquidity is pushing up against the top of its multi-year range. USD stablecoin supply has begun rising again. TOTAL3 is tracking a familiar consolidation pattern that historically precedes major altcoin breakouts. USDT dominance is coiling at a key long-term trendline. Even BTC’s performance relative to gold has held trend despite recent macro shocks.
None of these signals confirm a breakout yet. But together, they are starting to build pressure. The timing is lining up too. Several of these structures point to late July or early August as the window when something breaks. Whether it is a rotation in risk, a macro liquidity inflection, or a shift in capital flow, we are approaching the edge of the coil.
This memo breaks down 6 core signals and why they matter.
The TLDR is simple. Liquidity is no lo
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