Sophia’s Thoughts On ETF Flows And Macro Dynamics 

Bitcoin is down roughly 36% from its all-time high, yet the historic playbook calling for 77% to 85% drawdowns may no longer apply. Has institutionalization through ETFs fundamentally changed Bitcoin's bear market anatomy, or does the floor only hold until macro conditions turn?

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Cryptocurrency, ETF, Regulation, IBIT, BlackRock Gustavo Schwenkler Cryptocurrency, ETF, Regulation, IBIT, BlackRock Gustavo Schwenkler

Sophia’s Thoughts On Institutional Custody

Goldman Sachs has filed for a Bitcoin Premium Income ETF, adding another derivative layer on top of an asset that many retail investors already hold at arm's length. The question is not whether institutional demand is growing, but how many counterparties now stand between an investor and actual bitcoin.

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