Woah! Bitcoin is in price discovery. Funny I'd just read an article claiming bitcoin is "exhausted" and on the verge of crashing to $69k. I don't see any so-called exhaustion any time soon, especially the way institutions are currently going all-in. Granted, they're not buying spot bitcoin. They're buying the ETFs from the likes of Blackrock, who then have to go buy actual bitcoin to seed the ETF inflows. I think that's how it works.

Another factor is the writing on the wall for the US Dollar. The USA credit rating was downgraded, causing panic as US bonds become less "safe". Investors looking to hedge are now running to assets like bitcoin.

XRP ETFs, as well as Solana ETFs were delayed by the SEC. Notably there is no Blackrock XRP ETF application that I can see. I speculated in the video that, perhaps, someone at Blackrock picked up the phone and called in a favour at the SEC to delay the aforementioned ETFs so as not to dilute the current bitcoin inflows. It's a wild speculation, granted, but I can totally imagine this being true.😀

Peace & Love,

Adé