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Bitcoin penetrated the threshold of $ 111,000 for the first time in date on May 22, printing the highest level during the day 111,867 dollars on Binance, giving the assets the market formation of about $ 2.22 trillion, or two -thirds of the entire encryption market. The last leg of the assembly is pushed through a narrow meeting of stimuli that extend institutional flows, the accumulation of corporate budgets, and total economic stress.
#1 Spot Bitcoin Etf flows
From Wall Street to Black Rock’s cellar, the investment funds circulating in Bitcoin in the United States turned into a channel in one direction of the new capital. Farside Investors made $ 607.1 million in net subscriptions on May 21, of which $ 530.6 million flowed in ISHARES Bitcoin Trust (IBIT). This paid the 11-day distance to more than $ 2.7 billion and raised cumulative net flows across the last complex of $ 42 billion-an unprecedented pace for the six-month-old assets category.
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“More than $ 500 million in ISHARES Bitcoin ETF … approximately $ 2 over the past week or so. Flows of 26 from 27 days last. to publish In X., Eric Balumberg added that Ibit publishes “the second largest day of size ever. Feeding Feeding Frenzy in fact, the new ATHS will do so, for example, its circulation was the last time that this amount was 1/23 (last ATH).
#2 Bitcoin Treasury Companies
Parallel to ETF Torrent, a new set of Bitcoin listed companies adopt as the origin of a primary wardrobe. Besides the strategy and metaplanet, these companies have bought billions of dollars in Bitcoin in recent weeks. The Cantor Fitzgerald, which is worth $ 3.6 billion, will take the SPAC Twenty Twenty One Capital with more than 42000 BTC on its books, with the support of Tether, BitFinex and SoftBank. Strive Asset Management integrates with the asset entities on the Nasdaq Stock Exchange to create what you call the first company of the assets -led asset assets, and it is equipped with a $ 1 billion with a billion dollars to maintain the purchase of the coin.
Kulr Technology Group has raised the Battery-Tech Constress to 800 BTC this week after a new purchase of $ 9 million. Elsewhere, Infuetine in India, Digiasia Corp in Indonesia, Fintech Méliuz in Brazil, the state lender in France BPIFRANCE and the David Bailey Nakamoto network, which is now integrated with NittlyMd to build “the first bitcoin cut network,” among other things, Other strategies that lack a month. Combating these companies represent billions of dollars in the place, to a large extent, the demand is not sensitive to prices.
#3 new narration: Macro storm, fermentation
Macro background flows on the fuel on the fire. The long Japanese government bonds-a synonym for yellow returns-have become less than bids, as they sent JGB for 30 years to 3.14 %. This step emphasizes the preparatory feeding episode that connects Tokyo and Washington: Japanese institutions were among the largest foreign holders in the United States, and analysts warn that unintended JGB qualifiers can force US debt sales just as the Treasury should return approximately $ 8 trillion this year.
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As the WSJ Dollar index decreased more than 10 % of PEAK and CFTC data in January, which shows the largest short speculative situation since mid -2013, investors have been going to get alternatives to sovereign paper. The total teacher, Raul Pal, said: “The bond returns are rising. This is usually not good … but inflation decreases all the time. The story is liquidity. There is a lack of liquidity in the bond market, and when the returns rise, the government’s reaction function is always and in every case of printing more money.”
Global liquidity dynamics add to the situation. Global M2-Freezing funds in the United States, the euro, China and Japan-late last year and increased by 3-4 % on an annual basis, according to many followers. Bitcoin-M2 deviations are usually delayed by about three months; The current assembly has almost arrived at the specified date. Kevin (Kev_Capital_TA) also noticed, “Dollar decreases, global liquidity rise, BTC rises.”
For some old warriors on the market, price movement indicates a deeper behavioral transformation. “We are seeing BTC turning from one of the assets to risk to risk assets.” books After the bonds on Wednesday and sell the dollar.
“Today we have seen additional evidence that the government cannot reduce the budget deficit. The market reaction was by selling the American treasury, selling the US dollar, selling stocks, and buying BTC. The transformation has not yet been completed. It will take more than this like this to persuade the market that BTC represents the risk of assets.
At the time of the press, BTC was traded at $
Distinctive image created with Dall.e, Chart from TradingView.com
