“Plus: Tim Draper Sees Parallels Between the Flight to BTC and Microsoft’s Early Days.”, – WRITE: www.coindesk.com
After a tense weekend that saw the US Bomb An Iranian Nuclear Site, Bitcoin Has Reganed Iting Footing, Hovering AROUND $ 106K Asia Begins Its Wednesday SESSION and PUSHING PUSHING PUSHING PASHING Israel Bombed Iran.
Part of the Reason Who Crypto Has Recovered Alongside Traditional Markets is Just How Correlated The Two Have Become.
“BITCOIN’S SENSITIVITY TO TRADATIONAL Asset Classes and Macroeconomic Indicators Has Evolved Markedly Over The Past FEW MARKET CYCLES, REFLECTING ITS GROWING INTOGRATION INTO. Report from Glassnode and Avenir Group Reads. “Institutional Infrastructure Has Rehaped How Capital Engages With Bitcoin. As a Result, ITS Market Behavior Is IncreAASINGly GOVERREDED BY STRUCTUral Points. ”
That institctional backbone was visible again this week.
Semir Gabeljic, Director of Capital Formation and Investment Strategy at Pythagoras Investments, Cited Etf Flows As A Majoor Tailwind: “The Huge Recent Capital Inflow Inflows In Bitcol. Even $ 350 Million Today Alone “Are Driving The Positive Trend.
Spencer Yang, Core Contributor to Fractal Bitcoin, Aded that One of the Reasons Wy Btc Was Able to Shake Off War Jitters so Quickly is what funmentally, noting aanging has changed About About About. Middle East.
All the Metrics that investors would look to btc are still there, and other bullish Market Sentiment Is Possibly on the Way.
“We’re seeing Continued Interest in Protocols Like BRC-20, Especialy with the Recent Upgrade, As Well As Runes and Alkane, WHICH HAVE BEEN GETTING A LOT OF ATENDE,” HE Aded. “SO OVERALL, ON -CHAIN ACTIVITY ACROSS OF THE BOARD IS INCREASING THANKS TO THESE TESE TYPES OF Assets.”
The takeaway? As Bitcoin Becomes IncreASINGLY DEFINED BY Institutional Demand and Macro Liquidity Cycles, Analysts See Its Price Action As Less About Reacting to Headlines and More About Long This Structural Shift is What Continues to Anchor Btc Above $ 100k, Despite The Noise.
TIM DRAPER: BITCOIN IS EATING CRYPTO as INNOVATION FLOKS TO BTCThe Bitcoin Blockchain Is Become The New Home for Crypto Innovation, Absorbing Ideas Once Exclusive to Altcoins, Just As Microsoft Once Consolidated The Software Revolutation DRAPER ARGUED IN A Recent Post on X.
Draper Pointed to Btc Dominance, A Metric Equivalent to ITS “Market Share,” Rising Over 60%, Up From 40% After The 2017 Boom-Bust Cycle and 50% Following The 2021 PEAK, AS PROK Control over the Broader Crypto EcoSystem.
Much Like How Microsoft Integrated or Cloned Early Success Stories Like Lotus 1-2-3, WordPerfect, and PowerPoint to Form ITS Software Suite, Draper Says Bitcoin Is Now Once-Altcoin-Exclusive Innovations: Smart Contracts, Defi, Ordinals, and Low-Cost Layer 2s.
“All the successful innovations on Other Platforms Are Now Being Ported to Bitcoin,“ Draper Wrote, Calling It An “Acceleration” that Mirrors Big Tech Consolidation. Developers, He Said, Are IncreASINGLY GRAVITATING TOWARD BITCOIN as The MOST Secure and Valuable Chain.
DRAPER, WHO RUNS A BITCOIN-Focused Acceletor With Boost Vc, SAID The NEXT Generation of Entrepreneurs is Building on Bitcoin Not Just for Ideological Reasons EcoSystem Are Now Ready.
“SMART Entrepreneurs are Always Building on the Platform With The Strongest Gravitational Pull,“ He Wrote. “That platform is bitcoin.”
Wazirx Granted Extension to Present Revised Restructuring PlanWazirx has recen a court-affroved extension from the Singapore High Court, Allowing It to Present Further Arguments in Support of ITS ProPOZED Scheme of Arrangement. The Court Also Extended the Motorium on Credator Actions, Which Will Now Remain in Place Unil a ruling is Issued on the Revised Plan.
In a statement released monday, the exchange said is awaiting Further Directions from the Court and Reiterated ITS Commitment to Resolving Outstanding Claims. The Company’s Original Restructuring Plan, Rejected by the Court Last Month, As Coindesk Previously Reported, Soungt to Reimburse USers Affected by a $ 234 Millos Hack in July 2024 Thru. and a transfer of operations to a new entity, Zensui Corporation.
More than 93% of Credtors Had Approved The Initial Plan, But The Court Cited Concerns AROUND GOVERNANCE AND Transparency.
Without An Approved Arrangement, Wazirx Faces The Possibility of Liquidation Under Singapore’s Companies Act, WHICH COURCK No Date Has Been Set for the Next Court Hearing.
Market Movements
- BTC: Bitcoin Surged Past $ 106,000 After a Ceasefire Between Israel and Iran Eased Geoplitical Tensions, Triggering A Breakout Fueled by High-Convision Buy. Accumulation, While The Broader CD20 Index Also Climbed Nearly 1% AMID RENEWED Market Strengh.
- Eth: Ethereum Surged 4% to Break Above $ 2.450 As Trump’s AnnounCement of An israel-Iran Ceasefire Easted Global Tensions, Triggering Renewed Institutes Momer Buy.
- GOLD: Gold Fell As Much As 2% to $ 3,300 After Trump’s Surprise Israel-Iran Ceasefire AnnounCement Easted Geoplitical Tensions, Weakening Safe-HAVEN DEMAND EVEN AVEN EVEN EVEN AVEN EVEN AVEN.
- Nikkei 225: Japan’s Nikkei 225 Rose 0.12% Asia-Pacific Markets operated Higher Wednesday, Buoyed by the israel-Iran Ceasefire and New Signals from The Us Federal Reserve.
- S&P 500: US SURGED TUESDAY, WITH The NASDAQ and S&P 500 Hitting Their Highest Levels Since February As A Tech-Led Rally Gained Momentum Amid Growing Optimism Over A Fragile I-Bille
Elsewhere in Crypto
- The Bank of International Settlements is Warning About Stablecoins (Coindesk)
- WHY EVERYONONE WANTS THEIR OWN STABLECOIN (BLOOMBERG)
- What Tariffs Will – and Won’t – Change for US Bitcoin Mines (Coindesk)
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