Market stress test: AI demands ROI, Warsh tightens, Saylor's bet hurts, BTC/Gold at Make-or-Break

January’s “everything rally” just slammed into a brick wall. Record highs → brutal deleveraging → billions in leveraged positions flushed in days. Monday’s bounce? Pure tactical relief. This week's tactical bounce offered some relief, but the core narrative has flipped: euphoria has turned into a sober repricing of risk across assets.