#我要上精选 current BTC Circulating supply is 1975 million coins, ETF ownership exceeded 6%, which means:

1. The actual supply in the market has sharply decreased: the annual mining volume is only 140 thousand coins, while the annual rate of attracting funds to ETF is already 4 times higher than the mining volume.
2. The growth of BTC centralization: the share of the top ten institutions in circulation exceeded 15%
3. The logic of price changes becomes qualitatively different: the "buy-and-hold" model, controlled by institutions, begins to displace the market structure controlled by retail traders.
Outlook: the cryptocurrency market is entering a "great age of discovery"
The securitization process of Bitcoin is accelerating: more pension funds and insurance funds will enter the market in accordance with the legislation-
The price discovery mechanism has been reconfigured: CME futures and ETFs form a dual pricing system -
The siphoning effect of altcoins is intensifying: major assets continue to converge into BTC, as 6% of BTC supply is locked in the street Hu's insurance vault, this cryptocurrency revolution, which started with the basics, is experiencing an unprecedented paradigm shift. Behind institutionalization are not only traditional capitals confirming the value of digital gold, but also a fundamental shift in power in the cryptocurrency market. In the future world of cryptocurrencies, a new era of "institutional pricing" may begin.