Wormhole Wednesday
BTC rebounds after reaching $64.5K, SOL outperforms. Government sends $2 billion worth of BTC to Coinbase for sale. Funding rates remain low even after sweeps. The ETF has less inflows, and Ark has more outflows than GBTC. Wormhole W launches with $15B FDV. There is an ‘inflection point’ when BTC follows interest rates or gold. Gold and BTC have shown a very high correlation over the past year. ETF trading volume expected to decline this month: Bloomberg. Yesterday the BTC 2x and 3x leveraged ETFs were launched. The BTC ETF is now half the size of gold.