Dalio Repeats Bitcoin Traceability Blocks Reserves; Burry Warns Crash Spiral as BTC Dips to $81K

Ray Dalio warns Bitcoin's traceable ledger and 0.89 Nasdaq correlation unfit it for central bank reserves, boosting Zcash +800% while BTC pulls back from $82,739 to ~$81,200 amid CryptoQuant Bull Score at 40. This tempers institutional bullishness, including JPMorgan naming BTC the top debasement hedge over gold (BTC +19% vs gold -5%), $5.14B ETF inflows ($1.32B Mar, $2.44B Apr, $1.38B May), Bitwise declaring end of four-year cycles, and $35B US Treasury liquidity eyeing $115K. Earlier momentum from MSCI delays, Iran strike advantages, and nation-state adoption faces headwinds from Buffett's gambling warnings and dismissed quantum fears.