According to Cas Abbé, the BTC price has now factored in the global liquidity drawdown. Historically, BTC price tends to lag the global liquidity index by three months. In Q4 2024, liquidity reached its peak and subsequently began to decline. However, global liquidity has started to rise again in Q1 2025, which could positively impact BTC price movements. These observations suggest a potential bullish trend for BTC as liquidity conditions improve. [Source: Cas Abbé]