PANews reported on January 30th that BitMEX co-founder Arthur Hayes stated on the X platform that dollar liquidity has decreased by approximately $300 billion in the past few weeks, primarily due to a $200 billion increase in the US Treasury's General Account (TGA). The government may be raising cash reserves to ensure spending in preparation for a potential shutdown. Against this backdrop, the decline in Bitcoin is not unexpected, as it coincides with the contraction in dollar liquidity.