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Finding Optimism in a Market Reset
#Macro and Market Insights
Markets remain in a sustained de-risking phase driven by macro headwinds, a holding Fed, policy uncertainty, and AI-related capital rotation, pushing BTC to a ~52% drawdown from its October 2025 ATH. The key question is shifting from “how far” to “when” demand returns.
Structural participation is deeper than prior cycles suggest: spot BTC ETF AUM has held broadly resilient despite the price decline, stablecoin supply remains near ATHs, and RWAs continue to attract capital as a cycle-agnostic theme.
The week's defining signal is BlackRock settling its tokenized Treasury fund BUIDL on Uniswap; a landmark for institutional DeFi adoption, validating the convergence thesis and demonstrating that liquidity is present and ready to move on credible catalysts.
Structural participation is deeper than prior cycles suggest: spot BTC ETF AUM has held broadly resilient despite the price decline, stablecoin supply remains near ATHs, and RWAs continue to attract capital as a cycle-agnostic theme.
The week's defining signal is BlackRock settling its tokenized Treasury fund BUIDL on Uniswap; a landmark for institutional DeFi adoption, validating the convergence thesis and demonstrating that liquidity is present and ready to move on credible catalysts.
Avertissement : comprend des opinions de tiers. Il ne s’agit pas d’un conseil financier. Peut inclure du contenu sponsorisé. Consultez les CG.