{"content":"Here’s a clear paraphrase of your text: $BTC Update – $109,431.68 (-0.92%) Take a look at the Treasury General Account (TGA). With the government shutdown, spending has stalled, so the TGA is growing as receipts come in and debt is issued. The latest balance is $965 billion, up around $150 billion in October—meaning cash is being pulled out of the market. At the same time, the RRP (reverse repurchase) facility is rising as banks adjust their balance sheets ahead of month-end, up roughly $20 billion this week. This is all reducing market liquidity. Additionally, bank reserves are now at the lower end of the “ample” range, which is causing some stress in bank funding markets. We’re seeing this through higher SOFR spreads and increased use of the Fed’s Standing Repo Facility (SRF). Yesterday, eligible firms borrowed just over $10 billion from the SRF—a record since 2021. Liquidity is tightening, and it’s something to watch closely. If you want, I can also make a much shorter, punchy version for social media that keeps all the key points. Do you want me to do that? $XRP ","images":["https://d35imkjvkj28kt.cloudfront.net/uploadfile/article/blog/2025102025/10/31/2f9ae84fa308a0fd16d33651f4374e63.jpg"],"tags":[],"tradingPairs":["XRP/USDT"],"quotearticleid":0}