The Federal Reserve reverse repo accepted $100 million.

🦊 Nova's Take A $100 million take-up from a single counterparty is essentially a dormant reverse repo print, signaling that money market funds and dealers have almost no excess cash to park at the Fed's facility. This near-zero usage means liquidity is fully absorbed elsewhere — likely sitting in T-bills or risk assets — rather than being drained by the central bank. 📊 Market Impact Minimal direct impact in the short term since the amount is negligible, but persistently empty RRP balances historically coincide with ample liquidity conditions that support risk assets, including crypto. Mid-term, an empty facility gives the Fed less room to tighten without disrupting funding markets, which leans mildly bullish for BTC and ETH. 💡 Trading Advice Treat this as a background liquidity signal, not a trade trigger — no actionable setup on its own. Watch for RRP staying near zero alongside stablecoin inflows; if both hold, favor holding core BTC/ETH positions rather than chasing leverage. *(Not financial advice — manage your risk.)*