Matrixport released today's chart saying that fluctuations in global liquidity may put some pressure on Bitcoin. Historical data shows that liquidity changes usually lead Bitcoin price movements by about 13 weeks. As the dollar strengthened after Trump's re-election, global liquidity denominated in US dollars began to tighten, suggesting that Bitcoin may enter a consolidation phase in the near future.
However, this consolidation is expected to be only temporary. Overall, risk assets (especially Bitcoin) still show positive long-term potential. Nevertheless, traders should be more cautious in a weak liquidity environment, as these indicators have historically proven to be reliable market vanes.