According to @BullTheoryio, the U.S. Treasury’s rebuild of the Treasury General Account withdrew roughly $500B of liquidity in recent months, pressuring risk assets in Q3 (source: @BullTheoryio on X, Oct 3, 2025). The author states this drain pushed bank reserves toward 2019 repo-crisis zones as funding spreads widened, signaling early stress (source: @BullTheoryio on X, Oct 3, 2025). With the TGA rebuild nearly complete, the author argues the liquidity drain should end, leaving the Fed to either continue QT and risk dysfunction or halt QT and potentially reintroduce QE (source: @BullTheoryio on X, Oct 3, 2025). The post adds that potential consumer stimulus funded by tariff revenue is being discussed, which would inject additional retail liquidity if enacted (source: @BullTheoryio on X, Oct 3, 2025). The author concludes fresh liquidity historically favors BTC and altcoins and could catalyze a Q4 altseason, with traders watching TGA balances, bank reserves, funding spreads, and Fed balance sheet trends for confirmation (source: @BullTheoryio on X, Oct 3, 2025).

According to @BullTheoryio, Q4 has begun and could unlock the most powerful wave of crypto liquidity in years, driven by four real-world catalysts that are lined up and ready to trigger, not mere hopium, indicating a potentially favorable liquidity backdrop for digital assets in Q4 2025, source: @BullTheoryio, Oct 1, 2025. The author outlines this thesis in a new thread intended to guide market participants on the timing and nature of these catalysts for trading decisions, source: @BullTheoryio, Oct 1, 2025.