Bitcoin's macro tug-of-war
It's been fascinating to watch the $BTC price action lately, especially with the macro backdrop we're seeing. On one hand, you've got the institutional adoption narrative still building, which I think is a long-term bullish tailwind. But then you have the broader economic concerns, inflation data, and interest rate hikes that seem to be putting a bit of a dampener on risk assets across the board. It feels like we're in a tug-of-war between those two forces, which makes picking a clear direction in the short-term pretty tricky. I'm keeping an eye on how these macro pressures evolve, especially with the dollar's strength. Makes me wonder if we'll see further consolidation before any sustained move, or if the digital gold narrative can really start to take hold amidst the uncertainty.
It really is a complex picture. I'm curious if you think the institutional inflow has actually managed to offset some of the selling pressure we'd typically expect from the macro headwinds, or if it's more that those inflows are just finding a lower entry point.