📉 Prices are weakening
• $BTC around $71,000, down 6.6% in 7 days
• U.S. Bitcoin ETFs: 5 consecutive sessions of net outflows, totaling about $1.44 billion
🏗️ But institutions are still moving forward
• Square (Block) enables Bitcoin Lightning payments by default for ~4 million U.S. merchants
• Deutsche Bank is preparing BTC and ETH custody services for institutional clients
• Strategy bought another 1,036 BTC, bringing its total holdings to 850,364 BTC
🤔 Two parallel narratives
• Short term: outflows, a strong U.S. dollar, and expectations of Fed rate hikes
• Long term: payment and custody infrastructure continues to expand
→ Prices and infrastructure don’t always move in the same direction
⚠️ This is only a market observation, not investment advice.
#BTC #Bitcoin #BinanceSquareBTC
• $BTC around $71,000, down 6.6% in 7 days
• U.S. Bitcoin ETFs: 5 consecutive sessions of net outflows, totaling about $1.44 billion
🏗️ But institutions are still moving forward
• Square (Block) enables Bitcoin Lightning payments by default for ~4 million U.S. merchants
• Deutsche Bank is preparing BTC and ETH custody services for institutional clients
• Strategy bought another 1,036 BTC, bringing its total holdings to 850,364 BTC
🤔 Two parallel narratives
• Short term: outflows, a strong U.S. dollar, and expectations of Fed rate hikes
• Long term: payment and custody infrastructure continues to expand
→ Prices and infrastructure don’t always move in the same direction
⚠️ This is only a market observation, not investment advice.
#BTC #Bitcoin #BinanceSquareBTC