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Jake Simmons

Jeff Park: Kevin Warsh-led Fed may shift Bitcoin's regime, $170 trillion liquidity

Jeff Park, partner and CIO at ProCap Financial, says Bitcoin's roughly 50% slide reflects a break from the old liquidity-driven playbook, and contends a prospective Kevin Warsh–led Federal Reserve could herald a new trading regime. On February 5, 2026, Park reiterated his bear‑market stance and, citing Michael Howell, pointed to global liquidity near $170 trillion through 2025.