Bitcoin (BTC)

Hahaha, I remembered that back in 2018 I tried using Bitpay to pay for a software service with Bitcoin. The process was extremely slow, and they charged me an enormous Bitcoin fee. In the end it showed the payment failed, and they returned the remaining Bitcoin after deducting the fee to me. I was so angry I felt dizzy. Now that we have stablecoins, things are much better https://t.co/r2hxOECUDj

US SPOT CRYPTO ETFs FLOWS DATA UPDATE (06-03-2026): 🟥 Bitcoin Spot ETFs: -4,920 $BTC (-$348.90M) 🟥 Ethereum Spot ETFs: -40,006 $ETH (-$82.90M) 🟥 Solana Spot ETFs: -96,912 $SOL (-$8.60M) 🟥 XRP Spot ETFs: -11.85M $XRP (-$16.62M) 🟩 ChainLink Spot ETFs: +106.53K $LINK (+$935.31K) 🟩 $DOGE, $LTC, $AVAX, $HBAR, $DOT Flows Was Zero. TOTAL US SPOT CRYPTO ETFs OUTFLOW: ≈ $456.08M U.S. BITCOIN SPOT ETFs SOLD ~4,920 BTC Worth $348.90M 🇺🇸 BlackRock ETF Has SOLD 2,030 BTC worth $143.50M And -2,316 ETH worth $4.80M 🇺🇸 Fidelity ETF Has SOLD 2,240 BTC worth $158.50M And -32,623 ETH worth $67.60M 🇺🇸 Grayscale ETF Has SOLD 204 BTC worth $14.40M And -3,668 ETH worth $7.60M 🇺🇸 Bitwise ETF Has SOLD 313 BTC worth $22.20M FACT: US SPOT #BitcoinETFs SOLD ~11 Day of Mined Bitcoin Supply in Single Day.

Where is the usage of Bitcoin highest? In wealthier, store-of-value-first communities, or less wealthy medium-of-exchange communities? If volume is measured in dollar value, then the number is definitely higher where we see store-of-value-first. There's no comparison. But if volume is measured in number of people, it may be the other way around. Or at least more comparable. Just a guess.

$11.3B of Bitcoin ETF outflows since October. And to be honest, I expected it to be much worse! When we see Bitcoin lose 50% in a few months, only 11.8% of what entered these ETFs since their launch has come out. As shown by these graphs from @_checkonchain: - AUM (assets under management) in dollars has halved. - AUM in Bitcoin, the number of coins actually held, has fallen by 5.8%. These are investors who bought at an average of around $82K, are now at $70‑71K, and have not moved. Now we need to understand where these 11.8% outflows come from. During the bull market, funds bought Bitcoin ETFs on one side and sold CME futures on the other. Ideal for capturing the spread between the two markets. A clean, mechanical arbitrage. When this spread narrowed from 8‑12% to 5‑6%, the position no longer yielded enough. ETFs outflowed, futures were bought back. Both moved together: this is exactly what we see in the data when overlaying ETF outflows with CME open interest. These outflows, at first glance, have nothing to do with a loss of conviction on Bitcoin. The “real” ETF holders have almost all held on. And the first inflows are returning. ETFs introduced a new type of investor, and I thought they would be more likely to exit at the slightest change in wind direction! But ultimately it may be one of the strongest in the market right now.

Every MAG 7 company is higher then where it was in 2021 (Besides Tesla) some hundreds of percent higher then where they were at the top in 2021. Yet if you bought BTC in November of 2021 at its highs you’re actually down on that investment over almost a 5 year period. All of those companies also have a drastically higher market cap than BTC. Something to think about when weighting BTC in your long term portfolio. Bitcoin is still trading as an overvalued risk asset after all these years. When will the identity crisis end?