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At the moment of writing, Bitcoin price today hovers about $62,600, a modest ascent from dreary recent lows. Analysts, ever the chorus in a Sunday pantomime, fix their gazes on liquidity clusters between $65,000 and $70,000, which may become the hinges of fate if bullish sentiment continues its polite, stubborn ascent.

In this delectable breakdown, we dissect the mechanics of BitFi’s Sonar sale, a financial ballet where $50M FDV pirouettes with 14.5% circulating supply. What could possibly go awry? We explore the timelines, the risks, and the sheer audacity of it all-no hype, merely the cold, hard mechanics of financial theater.

As a researcher here at CoinDesk, I’m taking a look at the crypto outflows we saw in May. I’ll be breaking down what those movements tell us about the current state of the market and what signals they’re sending.