Gross U.S. customs duties jumped from the ~$7–8B/month range to peaks over $30B under the new tariff policies. The single largest crypto liquidation event on record ($19B, Oct 10 2025) happened on a China tariff headline. BTC and ETH order books recovered. Alt liquidity largely didn’t. I’m still stacking Bitcoin. Limited supply doesn’t care. But if an extra $15–20B a month is being pulled from the same consumer base that used to fund risk assets, where is the offsetting data? Serious question. Chart below.
Uncle Crypto 🦆Share
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