The antithesis is that Bitcoin is still considered a risk-on asset class in the conceptual framework of TradFi world, snd this susceptible to risk on/off flows.
Let’s play devil’s advocate for a second:
In the long run, what if the emergence of #Bitcoin is a means to trade liquidity like TradFi trades the #VIX??
https://capitalwars.substack.com/p/is-bitcoin-a-liquidity-proxy
The antithesis is that Bitcoin is still considered a risk-on asset class in the conceptual framework of TradFi world, snd this susceptible to risk on/off flows.
That’s what I’m saying. Maybe I’m misunderstanding you here.