here's what moves bitcoin, from biggest to smallest impact:


1/ global liquidity + the fed
btc is the most liquidity-sensitive asset on earth.
m2 goes up → btc goes up.
rates go up → btc goes down
2/ spot etf flows
since january 2024, +$53b flowed in.
~1.3m btc absorbed. now the #1 driver of demand.
3/ regulation
etf approval, us strategic reserve.
one word from the sec and it moves fast.
4/ treasuries + governments
strategy = 847k btc.
the us government = ~328k.
BTC-1.91%
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