Analysis · Nov 12, 2026 00:21 UTC

Bitcoin is overpricing hedging demand

Risk is easiest to ignore precisely when it is most expensive.

Revisit assumptions weekly; markets change faster than slogans.

Put beside current chatter on “Deutsche Bank Launched Institutional Crypto Custody in Europe,” the incentive problem looks clearer.

Builders and treasuries should track Bitcoin even when social feeds obsess over layer-2 networks.

Risk is easiest to ignore precisely when it is most expensive.

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