This could add more fuel to the rally in stocks and metals.

And make Bitcoin take off.

Understand and position yourself:

Last Thursday, the NY Fed called the major banks.

They inquired about conditions in the yen market.

This is called a "rate check."

It's the last step before currency intervention.

The US hasn't done this since 1998.

If it happens, the mechanism is straightforward:

→ Fed creates dollars out of thin air
→ Uses these dollars to buy yen
→ Fed's balance sheet expands
→ More global liquidity
→ Risk assets rise

Arthur Hayes explained where to look:

Every Thursday, the Fed publishes the H.4.1 report.

The line that matters: "Foreign currency denominated assets."

Today it's at ~$19 billion. It's been stuck there forever.

If that number starts to rise, you'll know what to do. Hayes' thesis is simple: Bitcoin follows dollar liquidity.

2025 was the year the Fed drained the system. BTC moved sideways.

If the dollar tap reopens—for whatever reason—BTC will react.

He projects $200k by March if the intervention is confirmed.

Two hundred. Thousand. Dollars.

By March.

The problem is what happens along the way.

There are still hundreds of billions in carry trade.

People who borrowed cheap yen to buy risk assets.

If the yen strengthens too quickly, this group needs to liquidate positions to cover the loans.

What to monitor:

→ federalreserve.gov/releases/h41
→ Every Thursday, line “Foreign currency denominated assets”
→ Increase = thesis confirmed

The largest liquidity injection since COVID may be forming right now.

Position yourself accordingly.