Like a gambler returning, pockets empty but eyes wild, institutional demand has burst through the dusty windows of the old Bitcoin saloon, setting legacy market prophets reeling—one analyst in particular now sporting the haunted look of a Dostoevskian antihero wrongfooted by fate, his mind aflame with visions of ETF-fueled upheaval. Ah, progress! 😅
Institutions Boot the Old Guard: Analyst’s Existential Crisis on Bitcoin’s Bull(ish) Fate
Somewhere amidst the cold Moscow dawn—er, crypto’s feverish twilight—Ki Young Ju, the tormented lead at Cryptoquant, gazed into the abyss of Bitcoin price charts and saw… not a bear, but the shadow of his own self-doubt! Only months ago, his pronouncement thundered: the bull cycle sleeps! Yet now, humbled (and perhaps slightly disheveled), he confessed on X (that digital confessional for modern sinners):
Two months ago, I said the bull cycle was over, but I was wrong. Bitcoin selling pressure is easing, and massive inflows are coming through ETFs.
This croaking of conscience comes, he claims, not from some petty FOMO but from the seismic shudder of institutional money. In more innocent days—if “innocent” is the word, for what innocence is there in financial bloodsport?—the market spun like a wheel of misfortune. Old whales, miners, naïve retail: passing bags like Dostoevsky’s tormented souls passing debt and guilt in Saint Petersburg’s fog. When liquidity vanished, the whales cashed out, cycles peaked, and everyone scrambled for an exit as if someone had shouted “Fire!” in a crowded Siberian theater. You know, musical chairs but with more existential dread and fewer happy children.
But now, he laments—nay, marvels—the market is changed! Money pours in from all quarters: ETFs, Microstrategy (because nothing says late-stage capitalism like a business intelligence firm hoarding virtual gold), the ever-watching eyes of institutions, and, as surely as a bureaucrat spying from the shadows, even some government agencies peering hungrily at BTC. The old models? Shattered, like Raskolnikov’s illusions after a hard night’s pondering.
Before, profit cycles were straightforward. Whales dumped, chaos reigned, price plummeted: a drama as predictable as a Dostoevsky duel, pistols at dawn included. Today? The analyst gazes into the inkwell of market data and admits: speculation grows murkier; liquidity now comes in waves from lands unknown; TradFi seeps into the soil, forever muddying the map.
Now, instead of worrying about old whales selling, it’s more important to focus on how much new liquidity is coming from institutions and ETFs since this new influx can outweigh even strong whale sell-offs.
Of course, being a good analytical soul cursed with awareness, he restrains his enthusiasm. “Sluggish,” he shrugs, like a gambling addict after a bad streak. The market absorbs liquidity with all the charisma of a Dostoevskian protagonist absorbing moral guilt, and the profit-taking cycle shuffles somewhere between hope and anxiety. No obvious bull, no obvious bear. Just a lot of staring into the abyss, while the abyss… stares back, counting its sats. 🧐💸
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2025-05-10 05:03