KangDaeWoong

🚨 BTC's rally is missing a crucial source of capital
In the previous uptrend, crypto treasury companies were a significant source of buying pressure:
• > $5B/month — average purchases
• Some months reached as high as $12B
• Contributing to BTC reaching its peak $120K
But this time is different:
• BTC has risen more than 35%
• Meanwhile, capital inflows from this group totaled only < $2.5B over 4 months.
👉 In other words, prices are rising sharply, but capital flows from crypto treasury companies remain very low.
This raises a notable question: what source of capital is currently driving the