Research, analysis, and perspectives on digital assets
2 Articles
The market has declared Bitcoin dominance over for the third time. We reject the premise: a structural altcoin breakout built on a collapsing BTC is a mirage, and the long tail thrives only when the foundational liquidity pool is growing.
The prevailing narrative is that Bitcoin has been permanently tamed by institutionalization. We believe this view misses the broader picture: a fundamental transition in market structure driven by the growing divergence between synthetic exposure and strictly scarce physical supply.
