Capital moves preemptively when markets price in shutdown risk.

That’s why we’ve already seen ~$100B exit crypto market cap and weakness across majors, even without a formal shutdown yet.

#Bitcoin holding above key levels for now doesn’t eliminate the risk. Supercycles depend on expanding liquidity and political clarity. A shutdown introduces the opposite: delayed fiscal flows, tighter financial conditions, and reduced risk tolerance.

#ETF inflows help, but they are backward-looking. If uncertainty persists, they slow. If they slow, the structural support weakens.

Although $BTC is unlikely to be destroyed, it can fracture the supercycle narrative into a longer, choppier timeline.$BTC