Markets· ★★★· bullish·

CoinDesk analyst: Bitcoin's current cycle is institutional, driven by tokenization and stablecoins

  • —Van Straten: BTC drawdown from peak is 53–54% vs 70–80% in past cycles
  • —He places the cycle bottom in February, with summer rangebound on low volume
  • —Inflows of TradFi capital into the on-chain economy via tokenization are just starting
  • —Risk: 24/7 tokenized markets may face insufficient liquidity dispersion
Why it matters: If tokenization and stablecoins do pull institutional capital on-chain, Bitcoin could cement its role as the base collateral asset of on-chain finance.
#BTC
Source: TokenPost
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