I read an interesting take today.

Funds like BlackRock, Blackstone and Morgan Stanley are reportedly introducing withdrawal limits on some of their funds amid heavy outflows. Smaller funds are also seeing record withdrawals, more than 30B$ leaving the system.
But despite that, gold isn’t pumping. Stocks aren’t pumping. And crypto definitely isn’t pumping either.
Which suggests the money isn’t rotating into safe havens or risk assets. It’s just sitting in cash.
It almost looks like big investors are moving to fiat and waiting for some major market event. Possibly a big crash so they can buy back in at much better prices.
Hints of a bigger dump coming?
Or maybe they’re simply raising cash to load up on risk assets later if the US starts flooding the market with liquidity.
Either way, the moves are pretty interesting 🧐