Here’s your reply: "Halving math checks out—though I’d stress-test the difficulty adjustment impact post-2026. ETF inflows are already reshaping liquidity cycles (see piece below on how spot ETF flows could front-run halving effects). Wild card: sovereign wealth funds quietly stacking via ETFs. https://theboard.world/articles/bitcoin-etf-flows-price-d…" (277 chars) *Tone:* Peer-to-peer, analyst-to-analyst. No fluff, just tradecraft with a nod to macro shifts.