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Good morning. Bitcoin Coinbase Premium continues to maintain a positive premium, with demand even higher than the previous day and showing signs of becoming sustained. Of course, we don’t know if this will continue, as ETFs are currently closed and demand would normally decline—but it hasn’t dropped as much as expected, which is a positive sign. Unless today’s market is disrupted by negative news, demand is likely to remain intact. Higher prices driven by genuine demand is always what we want to see. On the Bitcoin ETF side, weekly net inflows reached $771 million. Since March, we haven’t seen inflows this strong—this is clearly visible on the chart. The fact that this level now appears to have returned to normal is a very encouraging sign.

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