Spot ETF inflows have been consistently positive for months, and the post-halving supply squeeze historically plays out 12-18 months later.
Naima
74
Spot ETF inflows have been consistently positive for months, and the post-halving supply squeeze historically plays out 12-18 months later.
Institutional custody products are finally mature enough that pension and sovereign funds are allocating a small percentage, which is a new source of steady demand.
Macro conditions matter more than crypto-specific catalysts right now, and rate expectations have been repeatedly pushed back this cycle.
Every cycle has a narrative for why this time is different, and every cycle it has still corrected 60%+ from local highs before a new all-time high.