Everyone looks pretty comfortable up here. Maybe a little too comfortable.

There’s a nasty mix building around Bitcoin right now: tighter Fed policy, sticky inflation, oil above $100, high bond yields and a market still loaded with leverage.

Higher rates mean less easy liquidity, and BTC has always been extremely sensitive to liquidity conditions. Add expensive energy keeping inflation pressure alive and yields making safer assets more attractive, and the setup gets uncomfortable.

The bigger issue is leverage. Every bounce keeps pulling more longs back in. If the first important support breaks, liquidations could turn a normal pullback into something much uglier pretty fast.

Monday could be interesting.

A 2.5-meter gold-covered statue of Donald Trump has appeared in the European Parliament. It shows Trump sitting on the shoulders of another man who is struggling under his weight.

The message is s those at the top make decisions, while someone else carries the weight.

Crypto traders probably understand this image better than most right now. Trump came into office promising a golden era for crypto, but his tariffs and the war with Iran have repeatedly hit risk appetite, pushed oil and yields higher and triggered brutal liquidations across BTC and alts.

So yeah, the statue is political art. But for traders watching positions get wiped after another geopolitical headline, the idea of someone else carrying the weight feels pretty familiar.