Current macro environment reveals an interesting divergence across asset classes. Bitcoin, gold, and global liquidity continue their upward momentum, reflecting sustained investor appetite for alternative assets and hedges. The broader stock market has also been climbing, suggesting risk appetite remains intact.

However, beneath this optimistic surface, warning signs are emerging. Central bank reserves show a reversal in their uptrend—a significant shift that warrants close attention. Simultaneously, the dollar is weakening, while oil prices and financial conditions are both trending downward. This combination deserves serious consideration for portfolio positioning.

The picture becomes clearer when viewing it holistically: while Bitcoin and precious metals benefit from dollar weakness and accommodative global liquidity, the deteriorating financial conditions and declining oil suggest underlying economic stress. This creates both opportunities and risks for traders navigating these crosscurrents.