Major financial institutions are flagging a concerning gap in how G-10 currency markets are priced right now. The consensus? Markets might be sleeping on tail risks—those rare but devastating events that can reshape everything. When volatility spikes or black swan events hit, positioning in traditional currency pairs could face serious repricing pressure. For crypto traders paying attention to macro flows, this matters. If institutions start de-risking across traditional assets, that liquidity squeeze often ripples into digital markets too. The warning signals aren't just noise; they're worth monitoring closely for what comes next.