Since January 10, 2024 (SEC approval of the spot Bitcoin ETF), institutions have entered the market big time, and now the market is watching ETF flows daily as they have become a direct price driver. In May 2026, there was a wave of capital exit from the US ETF, which increased selling pressure and established a new rule: institutions don't hold forever... but when they move, they move the whole market with them.
Then came the halving on April 19, 2024, which reduced the supply (the reward is now 3.125 BTC), creating a 'slow but deep supply shock': over time, any strong demand could hit an even greater scarcity.
And on top of that, Bitcoin is breathing with liquidity and interest: tightening = pressure, easing = support. With regulations like MiCA in Europe and the GENIUS Act in the U.S., the market is heading into a phase of 'sorting': stronger projects will survive, while weaker ones will fade away.
In summary: Bitcoin is no longer just a trend… it's a global indicator of liquidity and confidence—and its impact extends to all cryptocurrencies.
