
#analysis THREAD
Here I'll show that investors already consider BTC a safe haven under on-chain capital flows.
Common wisdom that BTC is "risk-on" is a fallacy; solely a consequence of trader liquidations on derivative exchanges.


While traders were selling Bitcoins, investors were accumulating. It's investors that determine the long term price.

Price is a laggy indicator of quantitative fundamentals.
Price follows fundamentals. It's a safe haven already.
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