BloFin Says Bitcoin Debasement Trade Has Entered Second Phase

BloFin says Bitcoin’s debasement trade has entered a “second phase” as US federal debt tops $40 trillion and investors watch efforts to control borrowing costs. Bitcoin is trading near $80,000, about 37% below last year’s record high, even as the government runs a deficit close to 6% of GDP and long-term borrowing costs stay elevated, according to BeInCrypto, which cites BloFin Research. The report says Treasury buybacks and rising yields may be shaping expectations more than money creation itself.