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A Sept. 2 New York Fed analysis draws a line between reserve currency composition decisions and changes in overall reserve size, which means a falling dollar share does not by itself evidence official-sector Bitcoin accumulation. That weakens one leg of the structural BTC bull case, since the de-dollarization narrative has been used to justify a sovereign reserve bid that remains unproven and cannot be treated as a persistent, price-insensitive flow. Confirmation would require disclosed central bank balance sheet holdings or verifiable on-chain sovereign wallets; absent that, BTC demand still rests on ETF and retail/corporate flows, leaving it exposed to the same rates and dollar cycle as other risk assets.
As a Research signal, watch whether it changes price action, volatility, or flows around BTC.
Original Source: CryptoSlate
This page is market information analysis, not investment advice.
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Influencer Threads
The author notes that Bitcoin has fallen into the roughly $78,300 zone marked in blue and that a retest of that level is currently underway, with a comparison drawn to a similar instance earlier this year. This is the author's chart-based read on BTC price structure, and the remainder of the comparison is not fully available in the post.
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