Crypto analyst Luca discusses why the current Bitcoin bull market differs from previous cycles, labeling it a 'new era' with reduced retail investor interest.
In previous cycles, rising Bitcoin prices were accompanied by increased active addresses from retail investors, whereas now active addresses are declining.
The shift in the market is attributed to institutional players like Michael Saylor leading with larger holdings and less noise.
Institutional adoption is a key factor shaping this bull market, with companies like Semler Scientific and BlackRock's IBIT ETF demonstrating significant interest in Bitcoin.
Bloomberg's Eric Balchunas highlights how institutional adoption has stabilized the BTC price, with BlackRock's IBIT ETF contributing to market stability.
In the last 15 months, there has been a notable shift in ownership from retail investors to institutional players, leading to increased stability and decreased volatility.