PERFORMANCE ANALYSIS (Since Feb 28 – War Start) Relative Strength Ranking: BTC: +6.28% → strongest TOTAL2: +5.32% → large caps tracking BTC OTHERS: +4.71% → mid caps participating TOTAL3: +2.07% → weakest USDT.D: -5.30% → capital deployed What this shows: Capital entered the system (USDT.D down) That capital prioritized BTC first Then flowed into large caps (TOTAL2) Then into mid caps (OTHERS) Small caps (TOTAL3) lagged the entire move Conclusion (Flow Structure): This is a Top down capital flow: BTC → Large caps → Mid caps → Small caps (incomplete) There is no broad participation yet across the curve, just progressive expansion outward from BTC. Now this cycle is far from dead. Disabled at times. Delayed all last year. Make no mistake liquidity is expanding WoW 21T in debt issued: not QE War ends we rip higher not parabolic That comes by year end unless the madness continues. Not a prediction. I study the numbers. This is what I am seeing. TGA down $30 billion in a week and SOMA up $15 billion WoW and this has been happening since QT ended. But again: high yields, inflation, Oil & dollar are a big drag.