Price Discovery, Meet Demand Shock
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And now, for the weekly roundup…
Last week’s Roundup described Bitcoin as a coiled spring.
It was trading around $112,000 the week before on Thursday, only to move up hours later, culminating in a weekend high above $123,000. While the price has since retraced slightly, we remain in price discovery territory, with structural bid-side support holding firm and sell pressure continuing to diminish.
What’s driving the breakout? Beyond the obvious—more buyers than sellers—there are clear structural forces behind this move.
Institutional Bid Strengthens
U.S. spot bitcoin ETFs recorded their second largest single-day inflows to date last week, a clear signal that traditional capital allocators are getting into position. The vast majority of institutional flows remain on the sidelines, gated by compliance timelines, wirehouse access, and product approvals. But the pipes are being laid, and the capital is queuing.
Corporate Treasuries Abound
The corporate treasury bid continues to build. Nearly every day brings a new announcement. Earlier this week, Blockstream and Cantor Fitzgerald disclosed plans for a $4 billion SPAC to fund an initial acquisition of 30,000 BTC. This wave remains in the early innings.
Capital has been raised, intentions declared, but the real buying hasn’t started.
Regulatory Clarity Arrives
The GENIUS Act (the stablecoin legislation moving through Congress) was signed into law on July 18th. Paired with ongoing progress in market structure legislation, the direction is clear: the U.S. is establishing rules of the road. While not necessarily specific to bitcoin, this regulatory clarity has been the missing piece for many fiduciaries and institutions. Once resolved, the air cover is in place.
Political Dynamics Turn Bitcoin-Positive
Reports continue to circulate that the Trump administration could remove Jerome Powell or pressure the Fed to lower rates. Regardless of your political leanings, the implication is straightforward: a tilt toward looser policy, continued fiscal dominance, and a more favorable macro environment for hard assets, particularly those outside the financial system.
Sovereign Signals Multiply
Texas is preparing a $10 million BTC purchase through its state depository, set to begin as early as September. At the federal level, executive accumulation is being actively explored. Custody standards like MIC (formally embraced in BPI’s Strategic Reserve Toolkit) are paving the way for fault-tolerant sovereign storage.
This is no longer theoretical. Strategic state-level adoption is underway, and the sovereign reflexive loop is taking shape.
Higher prices attract more attention, which drives capital flows, which increase legitimacy, which strengthens policy support, and so the cycle reinforces itself. Institutions now face not just FOMO, but the risk of being structurally underweight.
The same is becoming true for nation-states.
A Final Perspective
Zoom out. Bitcoin is still just over 0.2% of global asset value. Despite the recent surge, most people still assume they’ve missed it.
But even those who bought the 2021 peak (~$69K) and held through the drawdown are now up over ~70% cumulatively and ~15.7% annualized (outpacing S&P 500 returns of 34% and 9.9%, respectively).
The lesson? Timing matters less than perspective. Bitcoin rewards those who stay focused on the long arc of monetization, not short-term volatility.
We’re early. The spring is uncoiling, and demand is just getting started.
Chart Of The Week
"The Cornell Bitcoin Club conducted a survey which revealed 90% of people have heard of #Bitcoin. Only 13% know it has a 21 million supply cap."
Quote of the Week
"Do you realize a whale just dumped almost as much Bitcoin as the German nation did last year and Bitcoin only dropped a few percent? Let that sink in.
Bitcoin is now one of the most deeply liquid markets on Earth, up there with gold and Treasuries."
Podcast Of The Week
Bitcoin For Professionals: Bitcoin in Lebanon: A Personal Journey Through Crisis and Hard Truths
When Lebanon’s financial system collapsed, gold refinery owner and engineer Said Nassar turned to Bitcoin, not for speculation, but to protect his savings. Today, he teaches university students why sound money matters in a world full of weak links.
His story bridges gold, education, and a lifelong search for financial truth.
Subscribe to Onramp MENA’s YouTube channel to catch new episodes of the Bitcoin For Professionals podcast!
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