📈 Matrixport: This Bitcoin Rally Is Different

July 11 – Bitcoin hits a new ATH, but with a twist:

🔸 No retail mania

🔸 No leveraged blow-off

🔸 Just $49B+ ETF inflows and calm markets

🧠 Funding rates remain modest, open interest rising slowly. Traders are cautious. The market is far from overheated.

🔥 What’s driving the move?

1️⃣ Fed under political pressure – 2 rate cuts expected in 2024, first likely in Sept

2️⃣ CPI report next week could push Powell to pivot

3️⃣ Crypto Policy Week in D.C., GENIUS Act gaining traction on stablecoin rules

🧵 Matrixport believes:

This isn’t a FOMO top – it’s institutions quietly front-running policy shifts.

💡 Upside not fully priced in yet. The real move may still lie ahead.

#Bitcoin #BTC #ETFflows