BTC is currently back around $80,860. Hotter-than-expected CPI + Middle East ceasefire on "massive life support" has dialed risk sentiment down a notch🤔
Bit Digital has dropped nearly nine points; iShares Bitcoin ETF fell slightly over one point, closely tracking BTC. Both are betting on Bitcoin, one follows BTC 1:1, the other amplifies to ~10x beta—is the leverage story for individual stocks fading, or is BTC's current volatility just a transition? I tend to think Bitcoin proxies like Bit Digital will be swapped out by retail for a pullback first during BTC's sideways consolidation period.
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