Japan and China are both walking away from US Treasuries, not a one-off sale, a sustained trend that's been building for months. Two of America's biggest creditors quietly stepping back from dollar debt is the kind of macro shift that usually shows up in currency and rates first, then ripples into risk assets. If this keeps accelerating, does it push more capital toward crypto as a hedge, or does tighter global dollar liquidity just drag everything down together?
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