Update
Wall Street Influences Bitcoin's Price Movements
10x Research founder Markus Thielen, in a Cointelegraph episode, discusses how Wall Street traders and profit-taking whales have impacted Bitcoin's price surges. Thielen notes that institutional traders selling call options after rallies have made consecutive double-digit price surges less common. He estimates that market makers account for up to half of the $60 billion in net spot Bitcoin ETF inflows he analyzed, which do not necessarily represent a bet on Bitcoin's price rise. Thielen expects Bitcoin to rise quickly on news and then spend time crab walking across the chart before the next big macro event. He still forecasts Bitcoin reaching $90,000 by year-end, with a potential drop into the mid-to-high $70,000s first.