Dear free and paid subscribers,There is a common consensus that Bitcoin is a risk-on asset. However this week I’ve been delving into the on-chain data, and it clearly shows investors already consider Bitcoin a safe haven. In other words, medium and long term investors should NOT be bearish on BTC in the case of a possible second pull back in stocks. Consensus wisdom and press coverage see BTC as a risk-on asset, the underlying capital movements disagrees with this view, in fact it’s far from the truth.
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