彭博社：Bitcoin drop reveals market fragility, retail investors pull funds

Odaily Odaily Planet Daily News Bitcoin's latest decline has exposed the costs of the scale and legitimacy brought by Wall Street, with the retail buyers who once helped absorb sharp sell-offs largely disappearing. According to Deutsche Bank AG data, as many investors have rotated into AI-related investments, the pool of new retail buyers has essentially dried up, and institutional demand is starting to lose momentum.

Analyst Marion Laboure stated that marginal buyers are no longer retail investors but ETF allocators or corporate treasuries, with investors having withdrawn over $6 billion from Bitcoin ETFs. Currently, Bitcoin is trading below Strategy's average cost of $75,699, and the market has begun to price in the possibility of leveraged corporate holders being forced to liquidate. Retail participation has stalled, and prices are increasingly influenced by institutional flows and AI competition. (Bloomberg)