# Сопутствующие статьи по теме ETF

Новостной центр HTX предлагает последние статьи и углубленный анализ по "ETF", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Bitcoin's Bull-Bear Cycle Indicator Turns Positive for the First Time in 7 Months: End of Bear Market or False Breakout?

Bitcoin's "Bull-Bear Market Cycle Indicator" from CryptoQuant has turned positive for the first time since October 2025. This gauge, based on the P&L Index relative to its 365-day moving average, suggests a potential shift from a bear market phase. Concurrently, the Bull Score Index rose to a neutral reading of 50 in late April. The indicator's move into positive territory follows a roughly 35% price rebound from a low near $60,000 in February to above $81,000. The recovery over approximately three months was faster than the 12-month period observed during the 2022 bear market. However, analysts caution against premature optimism, citing a historical precedent from March 2022. Back then, the Bull Score Index briefly hit 50, but it proved to be a false signal as Bitcoin's price subsequently plunged further. Structural differences exist in the current cycle, including consistent inflows into spot Bitcoin ETFs and an increase in large holder addresses. Yet, some models, referencing the four-year halving cycle, suggest a potential deeper bottom near $50,000 might still be possible around late 2026. In summary, while on-chain data shows marked improvement and the worst panic may be over, market participants remain cautious. A convincing trend reversal confirmation likely requires Bitcoin to sustainably break above key resistance, such as the 200-day moving average near $82,000.

marsbit05/12 10:08

Bitcoin's Bull-Bear Cycle Indicator Turns Positive for the First Time in 7 Months: End of Bear Market or False Breakout?

marsbit05/12 10:08

Interview with Michael Saylor: I Did Say I Would Sell Bitcoin, But Never a Net Sale

Interview with Michael Saylor: I Said We'd Sell Bitcoin, But Never Be a Net Seller In a recent podcast, MicroStrategy Executive Chairman Michael Saylor clarified the company's stance on potentially selling Bitcoin. Following MicroStrategy's earnings call statement about being prepared to sell BTC to fund dividends for its STRC (Strategic) credit product, Saylor emphasized the distinction between selling and being a "net seller." Saylor explained the core business model: MicroStrategy sells credit instruments like STRC and uses the proceeds to buy Bitcoin, which is viewed as "digital capital" expected to appreciate around 30-40% annually. A portion of these capital gains can then be used to pay the dividends on the credit products. He stressed that even if the company sells some Bitcoin for dividends, it simultaneously buys much more with new credit issuance. For example, after raising $3.2 billion from STRC sales in April, the dividend obligation was only $80-90 million, making the company a net buyer. The clarification aims to counter market narratives questioning the value of Bitcoin on MicroStrategy's balance sheet if it were never sold, and to dismiss claims of a "Ponzi scheme." Saylor reiterated his personal philosophy for investors: "Don't be a net seller of bitcoin" and ensure your Bitcoin holdings increase each year. Saylor also discussed Bitcoin's role as the foundation for "digital credit," noting that STRC has become the largest and most liquid preferred stock issue in the U.S., offering high risk-adjusted returns (Sharpe ratio). He highlighted Bitcoin's deep liquidity, stating that even large purchases by MicroStrategy do not move the market significantly, which is driven by macro factors, geopolitical tensions, and capital flows from ETFs and credit products. Finally, Saylor reflected on his early inspiration from sci-fi books, which motivated his path to MIT, and maintained his fundamental thesis on Bitcoin remains unchanged: it is superior digital capital enabling superior digital credit.

链捕手05/11 06:26

Interview with Michael Saylor: I Did Say I Would Sell Bitcoin, But Never a Net Sale

链捕手05/11 06:26

Banking's Breaking Point: Structural Reshaping of Global Bitcoin Adoption from Michael Saylor's Prophecy

Banking's Breaking Point: Structural Reshaping of Global Bitcoin Adoption Through Michael Saylor's Lens In a recent statement, MicroStrategy founder Michael Saylor predicted a wave of imminent adoption announcements regarding Bitcoin from major traditional banks. This forecast is seen as a recognition of the deep, structural shifts occurring within global financial plumbing, rather than mere market hype. The long-standing barriers between crypto and traditional finance are rapidly eroding, propelled initially by the approval of US spot Bitcoin ETFs, which unleashed hundreds of billions in institutional capital. This movement is now spreading globally from North America to Europe, the Middle East, and Asia. In the US, the catalyst is an "assets under management" anxiety. Giants like BlackRock and Fidelity, via their ETFs, have made crypto accessible to traditional brokerage accounts, forcing major banks to build behind-the-scenes infrastructure—as authorized participants, prime brokers, and OTC liquidity providers—or risk losing high-net-worth clients and AUM. Europe's adoption, driven by the clarity of the Markets in Crypto-Assets (MiCA) regulation, focuses on compliance and infrastructure building. Banks like Standard Chartered (with Zodia Custody), BNP Paribas, and Societe Generale are moving into custody, trading, and tokenization, aiming to leverage their established trust and settlement networks for the coming tokenized era. In the Middle East, adoption carries geopolitical and strategic hedging motives. Sovereign wealth funds and local banks in jurisdictions like the UAE are building integrated ecosystems, using Bitcoin as "digital gold" to diversify away from traditional dollar-centric systems amid de-globalization trends. Asia is undergoing a top-down institutional overhaul. Hong Kong approved the region's first spot crypto ETFs, with banks like ZA Bank facilitating fiat rails. Singapore's DBS Bank runs a digital exchange attracting institutional funds, while Japanese giants like SBI Holdings expand through mergers, responding to high retail crypto penetration. Saylor's prediction reflects an irreversible, structural convergence. Global banking's embrace of Bitcoin is being driven by a combination of competitive pressure in the US, regulatory clarity in Europe, sovereign strategy in the Middle East, and institutionalization in Asia, painting a clear picture of widespread, imminent adoption.

marsbit05/08 12:53

Banking's Breaking Point: Structural Reshaping of Global Bitcoin Adoption from Michael Saylor's Prophecy

marsbit05/08 12:53

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