#WeekendMarketAnalysis 1. Market Structure "Institutionalization": From Chasing Gains to Hedging
The 2025 experience proved a harsh truth: billions of dollars in capital inflows do not necessarily lead to price surges.
Hedging Capital: Although institutional channels (such as spot ETFs, MicroStrategy, etc.) bought nearly $44 billion worth of Bitcoin in 2025, early holders' profit-taking created significant selling pressure.
Transfer of Pricing Power: As Thomas Perfumo pointed out, Bitcoin is no longer a retail frenzy but has become an asset allocation tool for institutions. This means volatili