According to @ItsDave_ADA, Input Output completed an Ordinals-based example on the Bitcoin–Cardano path that demonstrated the feasibility of trustless cross-chain asset transfer and programmability, positioning BTC for DeFi access via Cardano’s stack, source: @ItsDave_ADA on X. According to @ItsDave_ADA, the Cardinal specification released in June 2025 defines a secure, trustless mechanism for Bitcoin holders to access DeFi by wrapping UTXOs for use cases such as staking, lending, and borrowing, source: Input Output GitHub cardinal-spec and @ItsDave_ADA on X. According to @ItsDave_ADA, Cardinal leverages Cardano’s extended UTXO model and smart contracts with BitVMX to extend Bitcoin programmability, source: Input Output GitHub cardinal-spec and @ItsDave_ADA on X. According to @ItsDave_ADA, this pathway targets tapping into what he describes as $2.2 trillion of Bitcoin liquidity as a programmable layer, source: @ItsDave_ADA on X. Traders should watch for two concrete catalysts flagged in the post: a Cardinal proof-of-concept following the Ordinals PoC and a demo of conditional BTC transfers such as release-on-delivery or market-triggered settlement, source: @ItsDave_ADA on X.