I had a great conversation with George Beall, Strategy Lead at @lombardfinance. In this short he describes the resiliency of Bitcoin and the massive demand for Bitcoin and $LBTC from every Defi protocol.

"I believe people are starting to recognize Bitcoin as one of the most resilient cryptocurrency assets. This realization is dawning on various types of investors. They may simply want exposure to Bitcoin.

On the other hand, there might be speculative traders who have been chasing new coins and are now looking to secure their profits by shifting into Bitcoin $BTC. Traders like @cobie, for example, strongly advocate for taking profits and moving them into stablecoins or major cryptocurrencies like Bitcoin. So, whether someone is holding stablecoins, $ETH, $SOL, or even $FARTCOIN, they might see Bitcoin as a more dependable option if they’re looking for a relatively stable and resilient asset."