macro liquidity remains the swing factor for car — self-custody adoption is forcing a rethi: reading the These Finland tape

Ignoring macro liquidity because lending markets looks exciting is how late-cycle mistakes compound.

Even when feeds obsess over “These Finland homes get free heat from bitcoin miners (as long as BTC stays above $70,000),” the durable question remains process versus prediction.

The loudest story is not always the decisive one.

Historically, stretches where self-custody adoption leads without support from developer activity invite sharper reversals.

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