MAJORS MUST LEAD AS CRYPTO SELLOFF REFLECTS MACRO REPRICING

Summary from the TLDR Crypto newsletter

Crypto's worst-in-class asset performance stems from December rate-cut probability collapsing from 70% to 42% within a week after Powell walked back guidance, triggering indiscriminate selling with GMCI-30 down 12% and BTC breaking below $100k for the first time since May. The selloff was amplified by Q4-Q1 whale trimming pulled forward due to four-year cycle expectations, creating self-fulfilling pressure concentrated during US trading hours rather than fundamental deterioration. Global easing continues with Japan preparing $110 billion stimulus, China printing, and the US QT ending next month, but majors must reclaim their range before sentiment stabilizes, as crypto trades entirely on macro timing rather than directional liquidity concerns.