Why Bitcoin’s Price Isn’t Booming Despite ETF Demand & Controversial ZKSync Airdrop
Matt breaks down why Bitcoin’s price is not surging despite there being such strong ETF demand. He also covers the big week ahead for macro, Coinbase Smart Wallet, continued institutional adoption, and altcoin updates.Key Takeaways
• Spot Bitcoin ETF demand continued to surge, yet prices held steady. It is becoming increasingly evident that more hedge funds are buying these ETFs while shorting BTC on the futures market (i.e. executing a cash-and-carry trade).
• The big macro event to watch this week will be the U.S. Federal Reserve’s interest-rate decision (June 12). The U.S. CPI data release (June 11) will also be closely watched. If these are in line with expectations, a relief rally is highly likely.
• Coinbase announced its smart wallet in an effort to dramatically simplify onboarding, eliminate network fees, and remove recovery phrases.
• Among the altcoin updates covered: Arweave’s upcoming AO token, Optimism’s important upgrade, and airdrop details for ZKsync (ZK).
Timestamps:
00:00 Intro
00:18 Downward Trend in Bitcoin & Altcoin Prices
06:08 Bitcoin ETFs: Demand vs. Price
11:54 Approval of Ethereum ETFs and Delay in Second Batch Approvals
14:33 Franklin Templeton's Interest in Asset Tokenization
19:20 Fidelity and JP Morgan's Collaboration for Asset Tokenization
24:10 Recent Altcoin News: Arweave, Optimism, and ZKSync
#BTC #ETH #OP
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