2026 is shaping up to be a watershed year for US taxpayers. Treasury Secretary Scott Bessent recently signaled that next year will see the largest tax refund cycle in history. What does this mean for markets? A massive influx of capital hitting accounts nationwide could reshape spending patterns and asset allocation decisions. For those watching macro trends, this is the kind of liquidity event that ripples across risk assets—including crypto. Whether retail capital flows into equities, bonds, or digital assets will depend on market sentiment and individual strategies at that moment. Either way, it's a data point worth tracking as we move through 2025 into what could be a transformative 2026.