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Rented Belief: How Much of the Bitcoin ETF Fund Flow is Real Money
Looking at it week by week, the ETF capital flow is mainly driven by a hidden arbitrage trade rather than belief.
The two giants are racing in "credit": loan balances of 9.9 billion vs 14.6 billion USD, Brazil has become the main battlefield
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A company that was on the verge of bankruptcy has just surpassed Bitcoin in market value
In this wave of AI, capital is clearly more inclined to pay a premium for segments that have real orders, visible supply bottlenecks, and quantifiable profits, which also puts the Crypto AI narrative under more direct scrutiny regarding the certainty of value realization.
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