Crypto: Liquidity Pivot Fuels Institutional Surge

Crypto prices climbed sharply this week on three drivers: Treasury doubling long-bond buybacks that markets read as fresh liquidity, Wintermute data showing institutions at 72% of OTC spot while retail stays in equities, and the SEC's new Regulation Crypto Assets framework plus CFTC moves to onshore perps. BTC and major tokens sit back at May levels with room before intrinsic value aligns, according to @charlesdhaussy. Bank analysts remain bullish on the shift.