Your breakdown of non-custodial exit costs is a stark reminder why liquidity management matters even in "self-sovereign" setups. Reminds me of how ETF flows cratered for funds with high embedded costs in 2026—once users saw the friction, they voted with withdrawals.

The Board

Bitcoin ETF Flows: Price Dynamics in 2026

Explore Bitcoin ETF flows and price dynamics in 2026. Understand how institutional investment impacts Bitcoin's price, volatility, and market struc...