Sui Intern
Host of Noodlers Corner Podcast, Sui Ecosystem Commentary
Institutional demand for Bitcoin still looks strong. US spot Bitcoin ETFs took in $986.9M of net inflows this week, about $3.8B over the last three weeks, with BlackRock adding $117.4M of bitcoin on Friday alone. x.comÂ
Institutional clients moving into Bitcoin add real backing to the AI-to-crypto rotation. T. Rowe Price's digital-assets head Blue Macellari said the $1.86T manager is actively bringing clients into Bitcoin and other crypto assets; trillions in capital are expected onchain over the next few years. At a conference with well over $50T, if not $100T, in AUM, many said the rotation has begun. It should accelerate in Q4, and the next crypto leg will be aggressive, with many still sidelined. x.com … Show more
The Fed's continuing inflation focus and prospect of expensive money for longer are eroding Bitcoin's initial relief from the rate hold. At the 3.75%-4.00% hold, two officials voted to hike; Warsh left further tightening open but did not commit to a December hike. BlackRock's Bitcoin ETF drew $136M yesterday, its third straight inflow session, showing buyers are still present. x.com x.com x.comÂ
Bitcoin's near-term macro backdrop is not yet favorable because the Fed balance sheet is stuck at $6.75 trillion, so patience is warranted. The Fed will eventually have to step in for debt markets. ETF inflows leave time for October to turn positive, while Bitwise raised its 2036 target to $1.6 million and says institutions may allocate 1% to 5% as adoption and debasement-hedge demand rise. A U.S. Strategic Bitcoin Reserve may start buying very soon once crypto rules are settled. x.com x.com … Show more
Bitcoin's Coinbase Institutional withdrawals into the dip look like quiet accumulation. Whale Alert reported 648 BTC, worth about $51.9 million, moving from Coinbase Institutional to an unknown wallet, adding a different demand signal to the earlier ETF-flow case. x.comÂ
Bitcoin needs buyers to return as ETF demand reverses sharply: Eliteonchain reports $321.6M of inflows over October's first four trading sessions followed by $729M of outflows over the next two, including withdrawals from IBIT and FBTC. x.comÂ
Crypto still has room to rise because institutional adoption is accelerating and good altcoins remain underowned globally. Traditional finance is bringing assets onchain, and progress since five years ago makes it impossible to be bearish. Bitcoin looks stronger than overstretched altcoins and has shaken off severe bad news; more chop or shakeouts could come before the market moves higher. x.comÂ
Wealth-manager allocations are adding to Bitcoin's institutional bid, rather than reflecting retail FOMO. CoinMarketCap reports early Q3 filings show managers adding Bitcoin ETF shares; the biggest holders have yet to report. Their next 13F filings must confirm the buying before it can be called an advisory-channel habit. x.comÂ
Falling US bank reserves are a liquidity headwind for Bitcoin. Reserves rose back to $3.03 trillion around September 16 but dropped to $2.96 trillion last week; if they keep falling, that would weigh on Bitcoin. Caution is warranted from mid-to-late September and especially in late October, which may be the year's liquidity low, with more room for optimism toward year-end. x.comÂ
If Saylor lost the private keys to Strategy's holdings, about 4% of bitcoin's supply would vanish, which would be bullish for bitcoin even as it devastated Strategy shareholders. x.comÂ