This year, the price of Bitcoin is like 'swinging', fluctuating between the correlation of 'gold' and 'Nasdaq'. However, short-term correlations can be misleading; retail sell-offs, corporate buybacks, and ETF capital inflows are key factors that may trigger 'supply tightening' leading to new price highs.

Last week, Twenty One Capital hoarded 42,000 BTC (approximately $4 billion), and many companies are competing to acquire them. Currently, around 80 companies collectively hold 700,000 BTC, accounting for 3.4% of the total supply. The U.S. spot Bitcoin ETF saw a net inflow of $3 billion last week, with a significant increase in institutional ownership. Combined with corporate holdings, institutional capital now controls 9% of the supply. Additionally, the BTC balance on exchanges has decreased; while some has been transferred to ETF custodians, if the U.S. government engages in strategic reserves, countries may start hoarding coins.

Some predict that Bitcoin could reach a peak of $200,000 by the end of 2025, $500,000 by the end of 2029, and $1,000,000 by the end of 2033, although there will be one bear market in between. Do you believe it? $BTC