Is bitcoin’s bullish momentum due to its usefulness, as exposed by the war in Ukraine? Is it due to TerraUSD using $BTC as a reserve asset? NWL digs deep on narrative vs. market structure.
Today on “The Breakdown,” NLW looks at the last two days of bullish momentum and sentiment.
Is it being driven by geopolitics and a broad recognition around the Russia-Ukraine war of bitcoin’s importance in a volatile world? Is it the market reacting to Do Kwon and Terra’s multibillion-dollar bid to build an asset reserve for the UST stablecoin? Or is it, like always, some combination of narrative and market structure?“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support...
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