An analysis suggests that Bitcoin (BTC) will no longer experience dramatic price surges or critical downturns as in the past. After the launch of Bitcoin spot ETF in the United States, market volatility has decreased, and the ecosystem structure itself has changed.
Mitchell Askew, a Bitcoin analyst at Blockware, stated that "BTC/USD before and after the ETF looks like entirely different assets" and pointed out that price fluctuations have significantly reduced since the Bitcoin spot ETF was launched in the United States in January 2024.
He explained that "Bitcoin will steadily rise to $1 million over 10 years, but the method will be completely different" and that it will "gradually filter out investors through a tedious flow of repeating 'pump and adjustment' without intense rallies".
He particularly emphasized that with the emergence of ETFs, Bitcoin has transformed from a speculative pattern centered on individual investors to a mature asset driven by large-scale capital inflows and institutional movements. This structural change is expected to significantly impact investment strategies across the cryptocurrency market.
Analysis suggests that the ETF approval trend during the Trump presidency has reinforced this flow. Indeed, major asset management firms like BlackRock ($BLK), Fidelity, and Grayscale entered the Bitcoin spot ETF competition in the first half of this year, significantly expanding the product's trading volume and market influence.
Meanwhile, Askew advised that "Bitcoin will now walk a quiet path without popular attention" and recommended that investors expecting short-term price surges need to shift to a long-term perspective.
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