The situation is no longer what it used to be. New players have emerged, completely changing the nature of the market. Today, we have Exchange-Traded Funds (ETFs), giant companies like MicroStrategy, institutional investors, and even some government entities have started to enter this market directly or indirectly. The entry of these big players means that new and massive liquidity has started to flow into the market.
And liquidity here is the key point. Previously, market movements were clearly linked to the decisions of the whales; if they sold, the market crashed, and if they bought, it rose. However, now it is no longer that simple. The liquidity coming from institutions has started to play a larger role and sometimes equates to or even exceeds the impact of whale selling itself.
But interestingly, the market has not yet fully dealt with this change. Many indicators are still moving in a neutral zone and do not show a clear trend. You might see the price rising, but you feel that the market is hesitant, as if it hasn’t yet decided whether this is a real long-term rise or just a short wave.