$TLT, the iShares 20+ Year Treasury Bond ETF, is experiencing notable activity as it approaches levels not seen since before the global financial crisis (GFC). Analysts are observing orderly distribution patterns in the ETF, suggesting potential movements influenced by interest rates and inflation concerns. Recent comments indicate that $TLT is currently positioned similarly to where it was prior to the Non-Farm Payroll (NFP) report, reflecting a cautious sentiment among traders. The ETF's performance is being closely monitored as investors weigh the implications of these economic indicators on long-term treasury bonds.