Rate Hikes and Bitcoin's Dance with Liquidity

Been watching the fed commentary this week and the continued hawkish tone on rates. It feels like every time Powell or one of the governors speaks, the market recalibrates risk appetite. For $BTC, it's particularly interesting to observe how much liquidity drives its movements, and with higher rates, that liquidity is naturally going to be tighter.

I'm curious how others are thinking about this in terms of positioning. Are we seeing a prolonged 'wait and see' for Bitcoin until there's a clearer pivot from central banks, or is this just another hurdle for institutions to clear before broader adoption? Given the current climate, even altcoins like $SHIB (currently hovering around $0.00000414) feel more susceptible to these macro winds than ever. It's not just about on-chain metrics anymore; the macro picture seems to be dominating the narrative.