1. What Just Went Down Bitcoin is sittin’ pretty above US $104 K even after the Fed flashed a “hawkish pause,” shooters popped off in the Red Sea, and tariff smoke clouded the equity block. In a week where risk assets normally catch a beat‑down, the orange coin barely flinched—holding its 200‑day line like a bodega gate at closing time.

2. Big‑Money Flow Keeps the Block Hot Wall Street ain’t window‑shopping anymore—they’re swipin’ the card:

Metric Latest Print Why It Matters Net spot‑ETF inflows (since 17 Apr) US $11.2 B Structural, buy‑and‑hodl demand—shares convert to real coins. Daily inflow (18 Jun) US $388 M 8‑day green streak, even with war headlines.

That’s not degens playin’ the casino—those are pensions, sovereign funds, and boomers’ IRAs stackin’ sats on autopilot.

1. Market‑Cap Milestone: Bitcoin Steps Over Google Back in April, BTC’s market value leap‑frogged Google, planting itself as the fifth‑largest asset on the planet at ~US $1.9 T. Every allocator who tracks the top‑ten global league table now has to wrestle with a non‑sovereign, programmable bearer asset in the mix.

2. Volatility & Correlation—The Temper Is Cooling Galaxy’s desk clocked 10‑day realized vol at 43.9, lower than both the S&P 500 and the Nasdaq 100—a flip from the old “crypto is crazy” narrative. RedStone Oracles show the 30‑day BTC/S&P correlation wobblin’ between –0.2 and 0.4. Translation: sometimes it moves with stocks, sometimes it moonwalks solo—classic portfolio diversifier behavior.

3. The Halving‑Fueled Supply Squeeze Remember the 20 Apr 2024 halving? Issuance dropped to 3.125 BTC per block. Miners started off‑loading to pay the light bill, but historical data says the real juice flows 9‑15 months after the cut. We’re in that zone now, with price already 3× last year’s average.

4. Verdict—Stress Test Passed, Respect Earned Put it together:

Price held > $100 K through macro mayhem.

Institutional bid is steady and on‑chain, not just futures froth.

Vol’s down, correlation’s mild, giving portfolio managers real diversification.

Supply’s tightening just as new money shows up.

That combo turned Bitcoin from a scrappy side hustle into a legit global macro asset—the kind you model next to gold, oil, and the S&P when you run risk scenarios. The block got tested, and it didn’t crack; it flexed.