#RateHikeRepricing RateHikeRepricing is starting to break the market narrative. For months, investors priced in rate cuts, endless liquidity, and another risk-on rally. Now the entire trade is being reversed. In just days: • US10Y yields surged toward 4.8% • $BTC volatility exploded +12% • Nasdaq futures dropped nearly -1.9% • Gold erased -2.4% from recent highs • The DXY climbed +1.3%, tightening pressure across global markets This is what real repricing looks like. Not panic. Not collapse. Just liquidity quietly leaving the system. And when liquidity disappears, leveraged markets crack first. Every cycle starts the same way: the market calls it “temporary” right before volatility becomes uncontrollable. The next move from the Fed may matter less than one thing: How much leverage is still trapped in the system. $BTC $ETH $PI @OKX中文 @Wind•Crypto✅