The crypto market has stopped trading as an island, and the clearest proof sits in the capital flows that shift every time the Federal Reserve moves on rates, the dollar strengthens, or global risk appetite turns, binding digital assets to the same macro machinery that prices equities and bonds. That link stayed theoretical for much of the last cycle, when Bitcoin’s defenders still described it as an uncorrelated hedge sitting beyond the reach of central banks. The 2025 and 2026 window closed the debate. A three-cut easing campaign from the Fed, a dollar that topped and rolled over, a 100% tariff threat aimed at ... (full story)