Money has no loyalty. It goes where it expects to be reward…

Money has no loyalty.
It goes where it expects to be rewarded.
If BTC remains weak long enough, the institutional question becomes unavoidable:
Why hold this asset instead of something productive?
That is the question that drives redemptions.
And once redemptions become persistent, the ETF ceases to be a source of demand and becomes a source of supply.
That is the transition that matters.
Not the fall to $40,000.
The six months spent there.
Written by S. Tominaga