Analyst: This round of the Bitcoin bull market is more driven by institutions and long-term capital

ChainCatcher news, Presto Research analyst Min Jung pointed out that this increase is mainly driven by the accumulation of funds from companies such as Strategy, Metaplanet, and Twenty One Capital, indicating that this round of the bull market is more driven by institutions and long-term capital rather than retail speculation.

OKX U.S. CEO Roshan Robert believes that the rise in Bitcoin is the result of multiple factors, including corporate reserve strategies, a surge in ETF fund inflows, macroeconomic uncertainty, and favorable regulatory signals.

Presto Research maintains its Bitcoin price target of $210,000 for 2025, to be released at the end of 2024.