An opinion emerged that BTC could see further declines as the U.S. Treasury's large-scale fundraising could absorb $150 billion in market liquidity. According to CoinDesk, Michael Kramer, founder of Mott Capital Management, explained, "BTC is a better indicator of liquidity than most assets. The Treasury's government bond issuance schedule, from May 28 to June 5, could shift approximately $150 billion in market funds into government bonds. Cryptocurrencies generally show their strongest performance when liquidity is abundant. Conversely, if liquidity temporarily drains, investors tend to become more cautious about investing in risky assets. While it doesn't necessarily mean an additional sharp drop will occur, BTC is not an asset that moves independently. Macroeconomic factors such as increased government borrowing and the resulting capital flows can significantly impact its price."
