#Bitcoin HY Credit Cycles signal macro risk-off 🔻 📝 The HY Credit BTC Cycles indicator shows macro conditions driving wider credit spreads, signaling increasing risk aversion. 📍 The chart's Halving 4 cycle (purple line) indicates the HY Rank descending towards 40% (spreads widening), with $BTC at ~$79K reacting to this macro pressure. 💡 This trend aligns with institutional selling and suggests capital outflows from higher-risk assets, necessitating caution amid broader market uncertainty.