Fresh data shows 8 institutions parked $1.485 billion in overnight Fed reverse repos today. That's a notable drop from recent weeks—signaling tighter liquidity conditions as cash gets pulled from the facility. When reverse repo usage shrinks, it often means money is flowing elsewhere: banks need reserves, treasuries look attractive, or risk assets are heating up. For crypto traders watching macro signals, this kind of shift matters. Less cash sitting idle at the Fed could translate into more capital hunting yield—whether that's in bonds, equities, or digital assets. Keep an eye on this trend; liquidity moves like these tend to ripple through every corner of the market.