Ahead of the Curve by K33

Bitcoin is once again testing its two hundred week moving average, but the bigger story is what is happening beneath the surface. ETF outflows have slowed significantly, trading activity has fallen toward multi-year lows, and institutional participation remains subdued. In this episode, we discuss why Bitcoin appears trapped in a fragile equilibrium, what recent ETF flows reveal about investor sentiment, how derivatives markets are positioned, and why macroeconomic developments remain the key catalyst for market direction. We also examine the growing concerns surrounding Strategy’s preferred share structure and what it could mean for Bitcoin markets.

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