TGA just rolled over hard, down 11.7% to $748B from the ~$905B peak and the rolling correlation with BTC is sitting at -0.57 / -0.32 / -0.56 across 30/90/365d windows

All 3 windows agreeing negative means the liquidity relationship is live and tight – TGA rising drains reserves out of the system and pressures BTC, TGA falling does the oppo