Total valuation of L2s over ETH :

Market cap : 4.6%
FDV : 13.4%

And then you must add zkSync, Blast, Scroll, Linea, Aztec, etc.

It looks high on FDV, but not stupid neither, imo.

Chinese scholars generally agree on the property attributes of Bitcoin and summarize: Bitcoin and digital currency has a relatively small space for legal order in China, but it is not completely banned. It is not a contraband. In fact, it can be traded and has economic value, so it can be recognized as property.

US spot Bitcoin ETFs saw a +$378.5m net inflows today.
It is the first positive net flow day since April 23rd, and the largest net inflow day since March 26th.
Largest inflow day since inception for $

U.S. spot Bitcoin ETFs recorded $563.7m outflows on Wednesday, largest daily net outflows ever

???

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Bitcoin fell to $57,000, a 24-hour drop of 9.3%.

Reuters noted that Bitcoin had its worst monthly performance since late 2022 in April.

Investors' belief that the Federal Reserve may not cut interest rates this year has dealt a blow to interest-rate-sensitive assets such as cryptocurrencies.