1/ "the first structure that stood taller than the Great Pyramid of Giza was erected nearly four thousand years later.
it was a cathedral."
2/ "religion is not always about God.
someday scholars will study Federal Reserve papers with the academic detachment with which we study ancient papal bull.
at the time, it meant something.
but in hindsight, it was arrogant gibberish."
3/ "the fact that we keep thinking and talking in terms of the rational (economics) to explain the irrational (the divine) reflects the inability of our society to experience a reality exists between these two poles."
in this thread, i'll quickly outline key data points on #bitcoin sentiment, demand, market structure, and macro conditions
disclosure: i own BTC, obvi. this is not investment advice. DYOR. further disclosures at coinshares.com
2/ let's start w sentiment ☺️
first, investor sentiment:
✅ @blackrock filed to add BTC to 2 funds, CIO has 400k price target
✅ @RayDalio's Bridgewater reportedly issuing BTC research report
✅JPM, Goldman, and other bulge brackets initiated research coverage
3/ next, trader sentiment:
🚨 most important indicator is the forward curve
normally BTC futures trade in backwardation after a price drop.
this time, the curve stayed in contango following drop, meaning market makers are bullish 🐂📈 despite funding rate increase!