The analysis centers on the Federal Reserve's monetary policy and the looming US Treasury debt maturity wall in 2025 and 2026. The Federal Reserve recently implemented a 25 basis point interest rate cut, bringing the federal funds rate to a range of 3.5% to 3.75%. This decision faced significant internal dissent, with three voting members and four non-voting participants registering soft dissents, reflecting concerns about persistent inflation (core PCE at 2.8%, above the 2% target). Despite Fed Chair Jerome Powell's hawkish rhetoric, the market anticipates further rate cuts, with a 68% probability of two or more cuts in the coming year. This expectation is partly driven by the impending retirement of Powell in May 2026 and the potential appointment of Kevin Hassett, an 'inflation dove' who advocates for aggressive rate cuts below 3%. A critical factor forcing a potential pivot is the US Treasury's debt refinancing wall: approximately $9.2 trillion in 2025 and another $9 trillion in 2026 will mature. Refinancing this $18 trillion debt at current high interest rates would cause interest payments to exceed $1 trillion by 2026, surpassing the entire defense budget and creating a 'fiscal dominance trap.' To avoid a sovereign debt crisis, the Fed may be compelled to implement 'yield curve control' (YCC), effectively restarting quantitative easing (QE) by buying unlimited government debt to keep interest rates low. This would lead to a 'liquidity flood.' Bitcoin (BTC) is highlighted as the most sensitive asset to monetary expansion, exhibiting a 0.94 correlation with global M2 money supply over the long term. China is already aggressively easing its monetary policy, injecting $1.5 trillion equivalent in the last six months, contributing to rising global M2. With US M2 growing at 4.6% year-over-year in October and the debt wall approaching, a period of synchronized global easing and a substantial liquidity injection are projected for 2026, potentially driving a 'massive run' for Bitcoin, potentially reaching $150,000 from current levels of $100,000. However, increased volatility due to inflation spikes from this liquidity is also a significant risk.