Most people watch CPI or rate cuts.

But if you trade crypto, the National Financial Conditions Index (NFCI) is also worth tracking.

It reflects how "loose" or "tight" money is across credit, leverage & liquidity.

When NFCI drops (looser conditions), $BTC tends to fly.

That’s not a coincidence — $BTC is still a risk asset that thrives on abundant liquidity.

In early 2024, NFCI spiked due to macro uncertainty. $BTC pulled back.

But conditions eased fast, and liquidity came back. So did the rally.

Don’t just watch the charts. Watch the flow of money.