Arthur Hayes calling this a "no trade zone" right now.

His thesis:

• AI-driven deflationary pressure building

• Iran-US tensions creating macro uncertainty

• Both could flush BTC back to $60k before the real move up

Translation: He's not chasing this chop. Expects a shakeout first, then continuation.

If you're overleveraged here, you're ngmi. Hayes rarely calls "no trade" unless he sees blood coming.

Watch $60k as the reload zone if this plays out. Until then, sit on hands or get rekt trying to catch knives.