Macro Snapshot: Where We Stand (Dec 15)

Risk assets are showing uniform strength across the board right now. Bitcoin continues its uptrend—nothing surprising there. But the real story extends beyond crypto. Gold's climbing, equity markets (SPY) are in green territory, and global liquidity just hit new all-time highs. That's the kind of synchronized move you don't see every day.

Even more notable: central bank reserves have flipped into an uptrend after that earlier reversal. The dollar index, though—that's the wildcard in the equation. When you're seeing ATH liquidity paired with traditional risk-on positioning in equities and commodities, the macro backdrop becomes increasingly important for crypto positioning.