The regulatory environment surrounding Bitcoin is constantly changing, and new financial instruments such as exchange-traded funds continue to evolve. We analyze how the composition of digital asset investors around it is changing.
🔸Bitcoin has evolved into a global asset with extremely deep liquidity and is available 24/7, allowing investors to express their macroeconomic views even when traditional markets are closed.
🔸Bitcoin continues to prove itself as a store of value, amassing over $850 billion in net capital inflows, and a medium of exchange, processing nearly $9 billion in economic volume daily.
🔸Multiple metrics show that new demand remains high, but is well below the peaks of previous cycles.
🔸Institutional investors are seeing growth, which reduces the severity of the decline and compresses volatility over time.$