Why can't BTC pump even with so much good news?? Other than the Bond selling explained above, Also the Fed has been doing QT as well, we see that brief spike up in the chart below as Fed used BTFP program to rescue the banks in US, but now the QT is back and falling hard..... So once again, we must keep in mind what kind of market we are in. The USD liquidity is being sucked away, is it being sucked away because so many large players are selling bonds! When you sell a Bond, someone has to pay you a lot of money for it, and that takes a lot of money out of the markets liquidity. So we have the Fed doing QT (selling or maturing Bonds), and US Treasury is also selling bonds at a fast rate last 3 months as we can see in the chart below. China sells Bonds steadily, and now this Japan move on the YCC (yield Curve Control) also makes sure that there is more selling of US Bonds from Japanese investors as well. And this Japanese YCC move could get bigger next 3-12 months. So in simple Terms, there was a big Bull market in 2020/21 because of Fed printing and Pumping money (by buying Bonds). And now it seems Fed and Treasury are both doing QT (selling Bonds), so I would call this period we are in now "Double QT" because BOTH Fed and Treasury are selling/maturing a lot of bonds. And that is why BTC has had a lot of resistance and can pump up even with so much good news. That is the explanation which makes most sense to me for now anyway.