spot ETFs is consolidating around weekend risk

Revisit assumptions weekly; markets change faster than slogans.

Treat developer activity as the constraint and user retention as the amplifier, not the other way around.

Against the backdrop of “Five Ways North Korea Breaks Into Crypto Firms” and “BTCPay Server 2.4.7 Security Release Adds Urgency for Self”, positioning still matters more than slogans.

Improvements in custody rails without confirmation from miner behavior tend to fade faster.

Attention jumps quickly; capital moves more slowly.

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