Join Matt and Nick as they explain why the crypto market, led by Bitcoin and Ethereum, keeps soaring higher. They also cover the Ethereum ETF race, the importance of token unlocks, and more.
Key Takeaways
• Bitcoin (BTC) surpassed $52,000 for the first time since late 2021, while Ethereum (ETH) hit a 19-month high above $2,850.
• Demand for the new spot Bitcoin ETFs remains stronger than expected, and is likely a major reason for BTC’s strong price action.
• A bankruptcy judge approved fallen crypto lender Genesis to liquidate roughly $1.3B worth of GBTC as part of its efforts to reimburse creditors. Importantly, this potential sell pressure on BTC is not as bad as the news headlines lead on.
• The Starknet Foundation announced an airdrop for Starknet (STRK) in what was one of the most controversial and divisive airdrop announcements to date. Claims open February 20.
Timestamps:
00:00 Intro
00:20 Crypto market update
02:15 Impact of Bitcoin ETFs
05:20 BTC & ETH market value
09:55 Franklin Templeton’s spot Ether ETF
15:46 Uniswap V4 upgrade
17:58 Controversial Starknet token airdrop
25:44 Illuvium’s Overworld game release
27:38 ETHDenver conference
29:28 Worldcoin’s price movement
32:33 Coinbase consumer trading volume
#BTC #ETH #airdrops
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Crypto prices keep climbing amid continued demand for the new Bitcoin ETFs and is Genesis about to sell lots of Bitcoin and eth find out in the upcoming discussion between Nick and myself as we recap the week’s events in crypto bringing you the most important updates for you to know about in under
30 minutes as always we’ll get things started with the market update and it’s been just more more good news for the crypto Market with Bitcoin up around 52,000 uh breaking through 50 50,000 as we spoke about last week but then also saying above it importantly uh so we
Didn’t really see a big sell off at all so Bitcoin still around its highest prices in over two years also saw eth the second largest cryptocurrency really finally going on a bit of a uh of an increase after sort of lagging the market for quite some time so last week
It hit its a 19 month high of uh over 2,850 so very notable there in in the background we do have the stock markets still performing sort of at or around uh all-time highs particularly in the US that is and then on the economic side sort of the bigger news from last week
Was two of the bigger economies in the in the world uh Japan and the UK uh both sort of saying that it’s very likely once the figures are confirmed for Q4 last year the economic data that they will officially sort of enter a recession so a recession is really just
Two consistent two back-to-back quarters of sort of negative economic growth so that’s very notable there and you know again really paints a picture of of just this dichotomy around the world Nick as as we’ve been talking about of different economies really you know humming along well others like well China uh UK Japan
Sort of not going as strongly as what they what they expected so all of this uh going on in the background is is as we’ve been talking about incredibly important when you’re talking about the outlook for crypto uh for many reasons that we’ve discussed uh over over the
Past you know months and years really uh but Nick I I’ll hand it over to you just to talk a bit about this ETF impact it’s been quite um quite astonishing yeah it’s been you know the story of the last week we saw and talked about you know in
In the last pod this movement of Greater inflows and that’s only accelerated you know in the past week we saw on Feb 13 the highest single day net inflows of the bit of Bitcoin into these ETFs of about 331 million single day which is huge inflows for you know the biggest
Bitcoin products and this all happens at in the same day that grayscale who were the biggest net sellers of Bitcoin from their gpdc trust and people that were involved in that they were redeeming at high rates we’re seeing now the second lowest day of net outflows of only $72
Billion from that in the same day so in one day we’re seeing record high inflows and we’re also seeing lows from the biggest sellers in the ETF space so a lot to like there in those Dynamics and we’re also seeing maybe the impacts this is having because Bitcoin ETF providers
And funds have now surpassed about 4% of Bitcoin circulating Supply which now puts them in a bigger bracket as the biggest Bitcoin holders you know higher than the likes of miners who are holding on to bitcoin so we’re seeing what we kind of hypothesized that these ET these
ETFs will see a lot of inflows uh and they’re going to really start to shape and become the biggest holders in the space and I’m would love to hear your your thoughts Mt on if and when we’re going to get to double figures in the next couple years or do you think that’s
Just wishful thinking oh at this rate uh I think it’s it’s definitely um on the cards uh and yeah it’s a future scenario I can see uh happening I think something we have talked about you know and thought about over the years is if Bitcoin is to
Really grow to the heights we we think it will uh ETFs will have to be a part of that um again stories even stories Nick about people over the past week that I’ve been hearing that have been selling their Bitcoin and buying uh the equivalent sort of amount dollar value
Amount in ETFs why because they just don’t want to deal with the security the the in inconvenience in in some people’s opinion of having to you know be responsible for holding the access and being in charge of uh the access through that Bitcoin known as self- custody
Which some people are really drawn to uh with in and a big characteristic that draws a lot of people to bitcoin uh so you’re seeing you know that this really play out that we have talked about over the years and I would I would not be
Shocked to see 10% uh in in you know many years to to come you maybe maybe a couple of Cycles time could be could be sooner but yeah it’s really encouraging to see that this this day is uh finally happened it’s uh it still actually does
Surprise me a bit I think I’m still I’m still used to talking about ETF coming in the future um but yeah exciting times we will move on here to uh probably so yeah so where are we at with with Bitcoin we see prices going up to well Bitcoin in particular uh surpassed
1 trillion uh in sort of market value last week and we saw overall crypto Market surpassed two trillion uh US dollars for the first time in a in a very long time I think it got up to about three trillion at the peak of the last cycle um and we we’re sort of
Looking for reasons I think it’s always good to be balanced and looking for reasons why things you may sell off in the future one of the things that I see a lot of people talking about uh in terms of short-term sort of sell sell pressure like Catalyst for sell pressure is just
The overhang of probably the crypto credit collapse in 2022 uh where we saw a number of lenders go under and exchanges and sort of the bankruptcy proceedings have sort of continued to happen going into this year and now we’re actually seeing a lot of those uh I guess liquidation process
Sort of kick in and you know creditors getting back their Bitcoin or eth or their gbt which is the leading Bitcoin trust and presumably there will be some amount of those people who decide to to sell it back um into the market which may sort of put some sell pressure on
That um so with that said Nick we’ve had you know Genesis with which is again a bankrupt a sort of a fallen crypto lender and trading firm which fed for bankruptcy uh about a year ago actually I think it was January last year uh what’s sort of the latest with uh with
Genesis and their Holdings of of all of their different I think gbtc and and e e all of those uh crypto products yeah so today was or last week was a major uh point in the sell pressure news because they were approved to sell about $ 1.6 billion worth of bitcoin and ethereum
Holdings with only a very minuscule and you know irrelevant amount of ethereum classic of 30 million so a lot of people speculated this is going to be another huge wave of sell pressure to hit the market you know which is a real tangible amount in the billions of dollars and a
Lot of questions about whether this is going to struggle for Bitcoin in terms of staying at 50,000 uh but I think from what I’m seeing is it’s not all bad news I’ve saw you know some coinbase coinbase analysts speculate that many of this will actually sort of remain in the
Crypto ecosystem contributing to the neutral overall effect on the market we’re also seeing that it won’t all be uh sold at once it’s going to you know be dumped onto the market you know um over the course of a long period of time uh although there was no formal timeline
In this court approval so it’s one of these ones is definitely there but we also have to consider about how much the inflows of the Bitcoin ETFs have been lately that you know is is the Bitcoin Market just so large now that um it the markets easily be able to absorb such
Large amount of sell pressure like this which I think that’s a reasonable case that it may yeah I agree I think you put this news on the crypto Market six months ago I think would have spooked a fair fair few people um however now we see well
What used to be maybe a big scary headline um yeah not really I think bother the market too much and and look if that’s one of the things people are talking about in terms of you know short-term things to look out for in terms of downside pressure I think uh
The cryp it really I think reflects on the sentiment around crypto at the moment and I think a lot of people’s expectations including myself for things to continue going higher like throughout the year um sure there will be periods like going off historic sort of past
Bull markets in crypto you tend to see periods of you know 20 25% sometimes there’s even 30% retracements within a prolonged bull market but I think overall for the rest of 2024 definitely are expecting things to go higher given really that lack that noticeable lack of
Of really too many strong uh yeah really strong and sound sort of short-term be be Catalyst but you know a week’s a long time in crypto Nick and uh who knows what next week will bre I know that’s there’s never been a wise word spoken I
Think mat may we even shifted Focus now to the maybe other ETF news but on the ethereum front we saw Franklin Templeton one of the another large investment asset manager in the space who was active in the Bitcoin space now they have filed for a spot ether ETF you
Become the latest company to enter you know those sweep Stakes I know we had a lot of good discussions uh just during the week about whether we even think a spot ETF you know is achievable in the time frame that some analysts um have pointed out uh Bloomberg are talking
About 60% chance I saw charted accountant something they were in the 60% frame even if you look on other prediction markets it’s pointing to a bit 50/50 uh what are your views there on Mad on on you know this news do you think it increases the likelihood we see
One in May um or is this just um the Market’s getting a bit too ahead of themselves thinking that spot ETF ETF you know is going to happen for yeah I think fragle and Templeton sort of getting involved in in in the application um you know in the pool of
Applicants last week I think it did it did help I think people’s optimism that you know there will there will be NF approved you know some stage soon whether that is May or just later maybe this year um again just I think they want to be involved in the case that
There is sort of uh an approved ETF like what we saw after Black Rock filed and we saw a lot of you know copycat applications just for the heck of it in case uh you know SEC approved Bitcoin ETFs which they did um so I think another thing um another thing Nick that
Is important here is I think we’ve talked about you know reasons why the SEC wouldn’t um would not well would deny these ETF applications given the the the setup and all of the arguments that were made to the court uh with regards to the Bitcoin the spot Bitcoin ETF and and why
Grayscale was continuing to oh sorry SEC was continuing to knock back uh bitco coin ETF applicants and we we see the setup being like very similar uh for these spot e ETFs assuming there isn’t anything to do with staking um so obviously you know ethereum appr proof
Of stake blockchain uh you can use deposit your e and help secure uh the network and get rewards for it etc etc which makes Bitcoin very different uh to makes ethereum very different to bitcoin um but I’ve seen and I think we’ve both been a bit surprised to see some of
These applicants have added staking into their into their proposed ETFs so their proposed spot ETFs um whether that’s even a bit of a negotiation sort of tactic of of sort of you know you know extending what you’re probably expecting to get just so then you can go to the
SEC all right fine we’ll take out we’ll take out the staking that could be a part of it uh but look I think the thing I’m going to be keeping an eye on with from now until the middle of May I think the main thing is the e e discount rate
So the the grayscale ethereum trust it’s exactly what we saw happen with gbtc how that was really the strong uh a really good indicator of the market sentiment and expectations of a Bitcoin ETF approval uh with that discount that gbtc discount it gradually went trended towards zero throughout last year when
When as the market sort of grew in confidence if the ethe discount is just sort of hovering around or even getting expanding that would reflect to me and indicate to me that the Market’s not super confident that ethereum ETF will be approved anytime soon so that’s just
One to sort of follow out there for any listeners or viewers who are particularly Keen uh on on tracking this ETF news but yeah whether it gets approved in May or later this year um sure some time frames might be a bit moved in terms of Market expectations
And certain altcoins and obviously eth itself um but I think again zooming out overall the trend is really healthy and this eth ATF excitement is has really come ahead a lot sooner than what I expected and yeah and yourself as we’ talked about Nick yeah that’s a really
Good one maybe we’ll put that in the show notes that uh I know there’s some good um on the block data with with those discounts because it’s definitely one one to watch and yeah I definitely noticed on the filings that even um Arc 21 in that e ETF application they did
Include that that language for staking and Franklin Hamilton did talk about that so I’m just going to be very very curious to see how you know the whole ETF race deals with now staking because that’s completely different Paradigm to what Bitcoin had to deal with it’s
Probably one of the the Catalyst of what I you know I’m also pretty doubtful whether we see one in may just because of those staking elements maybe if Bitcoin maybe if ethereum was more like Bitcoin it was a one for one but in this circumstance I think I think I would be
Actually pretty shocked more than anything to see that happen and even shocked to see the high percentages put on by some blue b gists yeah time will tell a may be May will come a lot sooner than obviously we we expect I’m sure and the market will
Start to look ahead at the commentary of the SEC negotiations and whatnot which will be happening in March and April so again very important for people to know about if you’re tracking this closely but yeah we’ll get on to some uh some Allco dates and yeah obviously the
Market’s starting to do really well seeing a lot more old coins coming out with you know big announcements and updates and whatnot and really just wanted to highlight you know a a few of them uh that happened in the past week they were meaning to pick from but we’ll
Get things started with uh with Unis swap here so the Unis swap Foundation has sort of set a tentative date for the long awaited uh V4 upgrade so uh uniso V3 was announced launched a couple years ago uh V4 was announced in June last year and we’ve seen uh the Unis swap
Foundation set a date for you know maybe a tentative date for Q3 this year so that would sort of bring the gap between the announcement and the launch to more than 12 months which is which is quite rare but there is a bit of a a technical
Reason with as we’ve said you know other times in the past this Denon upgrade for ethereum main net um is really it hinges on that sort of needs to go out first in order for UNIS swap B4 to go live so you know that’s sort of expected in March
Which is why I was a bit surprised to see all right if if it if this Denon upgrades happening next month you know why is it taking another three four five maybe even longer months for V4 uh to to launch so yeah it was a bit surprising
To me but um yeah is there anything else to add on that Nick uh no I think it’s just um a lot going on with Unis swap that we’ve talked about before we even have um I think unisa X which is their sort of liquidity protocol like router
Uh which hasn’t really been talked about as much so we’re seeing a few a few catalysts for UNIS swap who is you know most notably the the biggest market share leader in the space but competition’s heating up and I’m only going to be uh you know eager to see how
Unis swap deals with this because of as we all know Uni’s faced the biggest issue that value recur for the uni token hasn’t really followed um and un’s really lagged behind Unis swaps overall success as a protocol uh so that’s one I’m I’m looking out for whether Market
Participants take this as a good side for uni or whether uni is just going to continue to struggle to find that value or whether it’s just hinging on some sort of regulatory you know Clarity on how uni can actually distribute some Revenue back to UNI holders so that’s
Probably the main themes I’m looking for for the rest of the year and I think it’s a good position to be in for UNIS swap though yeah for sure now this is probably the uh I think most exciting or spiciest sort of update from the from the past week it’s definitely set an
Uproar on on social media and whatnot with starnet uh finally starnet for those unaware is just stff it’s it’s more complicated than this but it’s a really simplified it’s essentially like what arbitrum is to to ethereum or optimism is to ethereum they’re networks that you use just to get a lot cheaper
Transactions and a lot sort of quicker transactions to really really simplify it so they’ve been building for five or six years and they they’ve finally uh announced that they are doing a token airdrop so they announ oh well yeah the token is the ticker is STK for for starnet and I think the
Claims the airdrop claims are going live later this month but yeah they finally you know they had announced sort of the token a while ago which we might get to soon uh but yeah last week the big news was uh on Valentine’s Day actually they came out with the details of of their
Airdrop um and I think air dropping I think it was around 6 to 8% something like that to as an initial air drop to early users of starnet as well as you know a bunch of other sort of categories of users um yeah Nick I’d be interested to hear your
Thoughts on on this whole Stark net airdrop that’s coming up yeah you put a nailed the head there with the spicy comment because this one got crypto Twitter really up and RWS and especially in the ethereum community so it’s one of those things that uh I think everyone
Knew was coming with the airdrop kind of one of the worst kept secrets that Stark was going to do an air drop like many of the other Al in the space um but the biggest issue they fell into was I think that their token unlocks were coming up
Sooner rather than later this was a really controversial point because the to it actually technically went live and was generated on etherum mayet two years ago I think now or maybe less than two years ago so this meant that any of the unlocks for investors for users anyone
On like the the table of token holders that were entitled to the stock token you know are able to vest their tokens much sooner than perhaps you know otherwise would have thought so this would have been different if the token technically went live on Main net yesterday then they would have had to
Wait you know two years for these unlocks to happen the part where everyone’s confused or maybe a bit annoyed about is that these unlocks are starting to happen in the next I think few months so this is kind of confusion about whether people are really aligned to the network to the Token whether
There’s been some maybe deception to an extent that it kind of rushed up the token unlock so they could get out of the token quicker rather than waiting that 2ear period so that was probably one of the biggest negatives that affected sentiment I know there was a big focus on airdropping to developers
That were really anti this airdrop farming which is very persistent in the space um but perhaps the one of the areas that I’m probably most concerned about Stark net was that they probably are falling behind the competition in terms of getting users at adoption you know they’re probably one of the the
Lowest in terms of tvl and you know just value that’s on their roll up and users just transacting so I’m really interested to see now whether these air drop farmers will uh impact the transaction count on starnet whether we’re going to see a decline like we’ve seen on some other platforms and other
Networks and yeah just see how they can go about this because they in many ways have some of the the best developers some of the best you know Tech or you know you know the best I guess technical proficiency with the team that they’re building but they’re really far behind
Some of these other networks especially when you go to use it when it costs you know still upwards of 2050 cents sometimes so we’re seeing a lot for stet and a very controversial one I’m not sure how you took the announcement there matate yeah I I can’t remember can’t
Remember seeing anything like it and since I’ve been in crypto since like 2017 I’m I’m sure I’m sure there were controversial air drops but um like there’s always people who are unhappy like any airdrop that happens like obviously you can already choose so many people as a project to to I guess give
Your tokens to um however yeah this one really yeah angered a lot of people who again like felt because of how consistent how many dozens and dozens of airdrops there have been over the years of of of cases where people who use the protocol or the network like in its
Early stages tend to be uh tend to be qualified for an airdrop but you saw many early users in this case uh who were expecting an airdrop because of this sort of precedent or industry Trend um who who didn’t qualify because the the the criteria was quite uh yeah quite
I guess rigid or or just very yeah very different uh to really simplify very different from what you typically see uh with with other projects uh and yeah that that that vesting sort of thing he talked about Nick with um I think that’s it’s also important for anyone who’s a
Bit newer to crypto just um you tend to see like we have been seeing the past s of three months six months these newer tokens that land on the market like Celestia and dimension so Celestia The Tick TI Dimension dym even you saw it with Volo jto you know a lot of those
Newer tokens as Nick was saying you know they they launched on the day the airdrop sort of happened all the airdrop was announced therefore any investor in jto Labs Celestial Labs Dimensions entity your project any early team members they now have to wait uh typically it’s like a at least at least
One year and it’s sort of I guess their entitled you know distribution sort of vests over four years sort of unlocks a bit every month every month every month like after you get that onee Cliff um so yeah as as as we’ve been seeing the the value of these new tokens has been
Ballooning out to extreme amounts when you when you talk about fully diluted value or FDB which you’ll see mentioned a lot in this space if you’re if you’re newer to the market um where these fdbs of these new tokens is extremely high because there just isn’t many uh tokens that are in
Circulation uh so as Nick was saying starnet very soon will have you know a lot higher of a circulating Supply than these newer tokens like jeto Celestia Dimension even though the token will only be live for much the same period of time as those others so just some important context there when you’re
Talking about just approach ing it from an investment side of things or just Val valuing these projects it’ll really sort of warp I think a lot of people’s expectations of of Stark net where it’s circulating Supply will be trending higher very very soon after it goes live
So there’s we could talk about this air drop for about an hour Nick there was so many angles to it to view it from um but yeah it was definitely interested leave a comment on YouTube if you want to talk about it more um but yeah it’s one that
Will always be remembered uh for some people for the wrong reasons uh some will be a good lesson for airdrop Farmers always expecting the same air drops to happen every project um but yeah a lot of angles but we will move on to just this last update here from
Alivium I I’ll give this one over to you Nick yeah the alivium uh if you’re unaware is one of the biggest kind of crypto native games that is launching in the crypto space so they released a tentative date for their SEC their third and final game Overworld uh which kind
Of is the open world where people can travel they can capture these aluvial nfts that are the basis for their game so this follows the alivium arena which is their battle game where you know people can go and competitively battle with their alvial nfts against one
Another uh this is just a compliment to that and it kind of rounds out the final batch of you know initial alivium games that are going to come out so this is tentatively for Q2 for this year uh so I’m really looking forward to finally a tentative date being set um because it’s
Been a long road for lovian who have developed you encountered a lot of troubles uh you know game development is just so tough and so long it’s a long road ahead even even still this is going to be the first sort of beta games that are released and don’t expect this to be
Some sort of finished product in any you know in any capacity it’s still very early on and you know they’ve talked a lot about in their Discord about you know providing more uh more updates when this is done and it’s still just a very early release so really Keen to see what
This looks like because once we get to see full nft lives and the game operating under like real world conditions you know with real nfts then I think we’re going to really see whether or not you know people are interested in this or whether it could be one of the you know those
Breakthrough Gams that captures people outside of you know crypto yeah exciting stuff ahead uh for sure and Keen to see uh what it looks like alivian once it once it does launch uh yeah hopefully in in Q2 um we will move on to Yeah just something quickly to
Look out for for the next uh next week uh even later in February into early March is uh eth Denver or eth Denver so it’s a one of the leading uh annual conferences or events in the ethereum ecosystem uh and other blockchain sort of join in as well I do note that
Salana actually probably a lot of people would think is the Rival to ethereum in many ways or the main rival um they Salada will be having a booth at eth Denver I learned uh over the weekend um but why am I mentioning this it’s eth
Denver is it’s a really good I think way uh to gauge sentiment uh and probably more importantly to gauge sort of where the is at at the moment for uh I guess ethereum and also just projects building on ethereum sort of what trends are we
Seeing so you know as an investor and an analyst over the years e Denver and other sort of events have been really helpful for me to really um dive into that and you know watch some of the recordings so there’s a lot of there’s a lot of presentations and whatnot from
Different projects of of old coins or or projects that are going to release a token in the future um and they will sort of have recordings of their of their video at e demver recordings of their presentation will be uploaded on E Denver’s sort of YouTube channel uh
Probably in sometime in March maybe even April which I always love uh going on and checking that out just from my own personal sort of uh reasons as well so something to look out for for sure but we’ll kick things off with um sort of our our closing segment for the week the
Rapid fire so something that’s sort of underappreciated or or over appreciated I think the one that stood out for me this week was was worldcoin sort of um hitting new alltime highs last last week so I think this is underappreciated by a lot of a particularly any anyone who’s newer to
The crypto Market which I know there’s starting to be a lot of a lot of new people coming in I wanted to highlight this because but worldcoin for anyone unaware it’s just it’s a it’s a project that like sort of you know is known for sort of this this orb that scans
People’s eyeballs um and it’s it’s to do with sort of a proof of identity sort of network that they’re building out um and it’s known in particularly the thing it’s most probably known for is that the co-founder of of open AI samman is also linked to the world coin project um
Therefore this is probably the part that that I think a lot of new investors or just new people interested in crypto really underappreciate is just how uh correlated things that are outside of the project specifically so if worldcoin you know what tech are they working on you know what’s their project road map
In that you you would think coming into the space that that is really what drives price um I really just want to emphasize that in Bull markets in particular uh there are projects where that sort of stuff is is sort of secondary where you do see times where
Things that move prices are not as sort of intuitive as you think so last week was a great example of this where open AI so Sam alman’s sort of project uh or yeah company or whatever it is organization they sort of announced a big sort of text to video AI model
Called sora and it sort of went out all over social media um and yeah why am I mentioning it here well that actually s of led to a rally in all AI tokens in crypto um and worldcoin was one of them that sort of went up to record high so I
Just want to quickly sort of explain that that that you it’s very hard for people to appreciate I think how unique crypto is um as a market just because of how new it is and how no one really knows yet how to Value these things uh
From a long term Nick and I definitely uh on the same page in terms of fundamentals We Believe will win out over the long term but just really wanted to emphasize that on shorter time frames such as in this current bull market the things that drive prices aren’t always uh super intuitive
Particular if you’re new to crypto so I I rambled on a bit there Nick but just wanted to highlight that a really good point um when fundamentals are just really we like we like to think about them too much maybe and of often I guess the narrative is
Probably the main theme that can really move these things yeah well said well said any underappreciated uh point this week uh for me I’m going to go underappreciated is something that was like over overly talked so we had the coinbase earnings which came out that you know captured everyone’s attention everyone was
Reporting about it because it was a really good case study of one of the big the biggest crypto public company in the world uh what what they’re doing and how they’re traveling is really important to gauging the fundamental um you know uh I guess underly he of the industry so one
Thing I thought was underappreciated in this earnings report was uh the consumer trading volume in so we did see an increase of 164% quarter over quarter to 29 billion so we we did see retail start to come back you know in the latest rally in the end of Q4 but then we saw
Institutional trading come in at 125 billion you know almost 100% increase so we’re still seeing a lot of interest in you know the institutional side of things and Retail is still uh waiting to come back in the in the way we would imagine it in a bll market so this is
Really important to to understand that Dynamics at play and a little note there I did see of some analysts they did point out that a bottoming of this retail metrics did happen um in the last quarter so we’re seeing a lot of potential interest and once institutional start to slow down maybe
We can start to see this inflow from retail yeah yeah well spotted there Nick and um yeah another another validation that we are you know in my opinion at least very early in this bull market one reason for that being just the yeah pretty quiet on the retail side of
Things are quite relative to what you would think when prices are so close to all-time highs so definitely of the opinion that once we do hit all-time Highs at some stage for Bitcoin I think that will be the Catalyst that that causes that typical influx of retail
Interest but yeah time will tell where that happens but yeah we will leave it leave it there so that is a wrap for this week if you are looking for more insights you do want to check out our revamps weekly shift newsletter providing free weekly Market insights every Friday subscribe at collectiv
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