Part 10/13:
Investment Behavior: Data shows that institutional investors buying during price rises tend to hold through downturns, demonstrating 'sticky' adoption and low time preference.
Pricing Metrics: The average ETF buy-in price (~$62,200) aligns closely with current prices, reinforcing the idea that early adopters and institutional investors are confident at current levels.
Supply Dynamics: Continued accumulation from entities like Hong Kong and rumors of a burgeoning retail demand through regulatory approval suggest a tightening supply environment.
Historical and Technical Perspectives
Analyzing Bitcoin’s past cycles reveals patterns: