Institutional capital has transformed Bitcoin markets through ETFs, derivatives, and leverage, creating 'paper Bitcoin' that influences prices independently of actual coin movement. Centralized holdings serve as collateral for counter-positions, altering traditional market dynamics and potentially dampening volatility compared to earlier cycles.













42.45M 人気度
149.45K 人気度
90.29K 人気度
1.66M 人気度
485.22K 人気度
8.17K 人気度
6.93K 人気度
20.17K 人気度
3.95K 人気度
359.69K 人気度
44.64K 人気度
101.22K 人気度
16.93K 人気度
70.03K 人気度
7.11K 人気度