π Bitcoin Breaks Its Beta
Keyrock's July 20 weekly note highlights Bitcoin decoupling from tech-equity beta β BTC closed +1.63% on the week while the Nasdaq 100 fell -4.13%, even as cooler June CPI data failed to rally risk assets amid a 30-year yield pinned above 5%. ETH saw the stronger institutional bid, with ETH ETFs pulling in $105.5 million net versus $75.5 million for BTC ETFs, ahead of the CLARITY Act's Senate floor vote. Onchain, capital rotated from Arbitrum into Hyperliquid, which hit a record $11.07 billion open interest, and into Robinhood's new Arbitrum-based chain.
π Read more