ECB paper claims older Bitcoin holders are exploiting new holders

European investors pour record $105B into US Bitcoin ETFs

Despite record European inflows, Bitcoin has been unable to recover above the $70,000 psychological level since July.

*International ETF flows to the US. Source: Eric Balchunas*

Bitcoin open interest exceeds $40B amid brush near $70K

High open interest signals more leverage, which could induce another flush-out if positions are liquidated.

*Exchange BTC Futures Open Interest (USD). Source: Coinglass*

Governments must tax or ban Bitcoin to maintain deficits: Minneapolis Fed

The Federal Reserve Bank of Minneapolis suggests that a ban or tax on Bitcoin could ensure its ability to run permanent budget deficits.

*The central bank used a lot of complicated math to propose a Bitcoin tax. Source: Minneapolis Fed*