# Bitcoin Hashpoint, page 5

> Structural analysis of Bitcoin: the power law, the flows, and the balance sheets. Written by Dennis W. Davis.

## Editions

- [The Hashpoint for July 2, 2026](https://bitcoinhashpoint.com/the-hashpoint-for-july-2-2026/), July 2, 2026: Bitcoin sits at its power-law floor while the institutional bid drains from every channel at once. STRC below par is the mechanical cause.
- [The Hashpoint](https://bitcoinhashpoint.com/the-hashpoint-2/), June 1, 2026: Bitcoin opens the week of June 1 at $73,771 inside a 744 point band, with the Hashpoint model reading $74,917 at seven days and $79,329 at thirty.
- [The Compression](https://bitcoinhashpoint.com/the-compression/), June 1, 2026: Bitcoin holds $73,771 in a 744 point band while Treasury yields reach their highest since 2007 and Strategy buys bonds instead of coin.
- [The BitVac Pauses](https://bitcoinhashpoint.com/the-bitvac-pauses/), June 1, 2026: Strategy bought bonds rather than Bitcoin in the week of May 24, holding 843,738 BTC at a $75,700 average cost while its funding apparatus recharges.
- [The 2007 Number](https://bitcoinhashpoint.com/the-2007-number/), June 1, 2026: The 30-year Treasury yield hit 5.197% on May 20, its highest since July 2007, with the VIX at 15.32. What long dated yields do to Bitcoin.
- [Six Days Out](https://bitcoinhashpoint.com/six-days-out/), June 1, 2026: U.S. spot Bitcoin ETFs posted six straight days of outflows and $1.42 billion of weekly exits, cutting 2026 net inflows to $536 million.
- [Midweek Dispatch](https://bitcoinhashpoint.com/eight-days-of-bleeding-and-nobodys-turning-off-the-tap/), May 28, 2026: Eight consecutive days of U.S. spot ETF outflows since May 14 total more than $2 billion, with Bitcoin at $74,750 and the 10-year Treasury at 4.50%.
- [Three Pillars, One Crack: How Bitcoin's Spring Rally Met the Mid-May Pipeline](https://bitcoinhashpoint.com/three-pillars-one-crack-how-bitcoins-spring-rally-met-the-mid-may-pipeline/), May 23, 2026: Spot ETF flows reversed, Strategy's funding mechanism breached par, and a single CPI print forced a wholesale repricing of Fed expectations. All in one week. All compounding.
- [The CPI Print That Broke the Rally](https://bitcoinhashpoint.com/the-cpi-print-that-broke-the-rally/), May 23, 2026: April inflation data forced Fed funds futures to reprice from rate cuts toward rate hikes. The macro environment for Bitcoin is now restrictive, not accommodative.
- [Reading the $1 Billion Outflow Week](https://bitcoinhashpoint.com/reading-the-1-billion-outflow-week/), May 23, 2026: ETF flows reversed sharply in the second week of May. The reversal reveals something durable about the nature of institutional demand in 2026. It amplifies, but it does not lead.
- [Inside the STRC Par Defense: Why $99.30 Matters More Than $77,000](https://bitcoinhashpoint.com/inside-the-strc-par-defense-why-99-30-matters-more-than-77-000/), May 23, 2026: Strategy's preferred-stock funding instrument has become the single most consequential mechanism in 2026's Bitcoin supply-demand balance. Here's why it's flashing yellow.
- [The Hashpoint](https://bitcoinhashpoint.com/the-hashpoint/), May 22, 2026: Where Bitcoin sits in its long-run structural envelope. The simplest version of what the data says.

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