Bitcoin Price (BTC) Analysis: Patience, Urges Long-Term Bull

Longtime traditional finance asset manager Jordi Visser argues in a viral essay that Bitcoin's current sideways price action, despite positive macro factors like ETFs and institutional adoption, mirrors the post-IPO consolidation seen in stocks. Visser likens Bitcoin's situation to a 'silent IPO,' where early investors, who waited years for liquidity, are now methodically distributing their large holdings into the new institutional demand provided by ETFs and corporate balance sheets. This distribution is careful to avoid crashing the price, resulting in a frustrating sideways grind for many observers. Visser suggests that this phase is a necessary, long-term bullish event, but it could take many more months before sentiment improves and the market moves clearly higher, urging patience until this heavy selling pressure subsides.

(Source：CoinDesk)