This could make or break the Bitcoin bull market

Watch out for a pivot in the financial conditions

Bitcoin is up 300% since the bottom of the bear market. Honestly the last 18 months have been pretty nice. But recently things have changed.

The inflows have dried up for the ETFs. And since the ETFs are the main source of demand for Bitcoins these days the price has stalled. 

Why?

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This could make or break the Bitcoin bull market

The takeaway

The introduction of the Bitcoin ETFs opened up a new source of demand. The halving restarted the clock for the narrative around Bitcoin’s scarcity. And yet Bitcoin is stuck around $60k.

That’s because the macro winds are turning…