$172.2 billion massive withdrawal: cash is being abandoned, and global capital is shifting into an “attack mode.” A set of highly significant historical data has just emerged: over the course of one week, $172.2 billion was withdrawn from cash and money markets (a record-high). This is not ordinary volatility, but a turning point—global liquidity direction has changed.

What funds suddenly pulled back from the “safe haven”? There are two core drivers behind this:
Expectations that geopolitical risks will ease
Expectations that Iran-related conflicts will come to an end
Tax-cycle fund releases

The essence of it is this: large amounts of capital are flowing back from safe-haven assets into the market. At its core, risk appetite is returning.