Finally, ETF rumors often increase cross-market liquidity transmission between traditional finance and crypto markets. Correlations with equities, futures, and macro news may strengthen as new participants prepare for entry. Investors may adapt by monitoring macro liquidity indicators more closely, adjusting position sizes, and integrating Bitcoin exposure into a broader portfolio framework rather than treating it as an isolated asset.
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Cardano’s academic rigor and regulatory compliance (e.g., Midnight privacy layer, 2025) appeal to institutions wary of ETH’s regulatory uncertainties. An ADA ETF (anticipated) and its classification as a commodity (per CLARITY Act discussions) would attract traditional capital, boosting ADA value. ETH’s larger market cap ($382B vs. Cardano’s $18B, 2025) still makes it the institutional default, slowing ADA’s catch-up.
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CBDCs represent "programmable money" where rules can be hard-coded. Bitcoin, in contrast, is a "programmable platform" (via smart contracts) with neutral money. This distinction is crucial. CBDCs compete with applications built on Bitcoin (like Layer 2s), not with BTC's base layer store of value, which may remain unchallenged.
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