Institutional Demand Fades
Bitcoin’s price remains stuck under $100,000, leaving investors worried. JPMorgan analysts point to a sharp decline in institutional interest as the main culprit. Institutional investors, once the driving force behind Bitcoin’s rallies, have pulled back. This slowdown is evident in Bitcoin and Ethereum futures on the Chicago Mercantile Exchange (CME).
Typically, futures prices trade higher than spot prices, signaling market optimism. But right now, the opposite is happening. This phenomenon, called backwardation, shows institutions are cautious. Without strong buying from large players, Bitcoin struggles to maintain momentum.
Lack of Bullish Catalysts
Another factor slowing Bitcoin’s ascent is the absence of fresh bullish news. Enthusiasm surrounding pro-crypto policies from the Trump administration has cooled. Investors don’t expect significant regulatory changes until late 2025. This policy delay leaves Bitcoin in a holding pattern, with many taking profits instead of pushing the price higher.
Market Manipulation Allegations Surface
While institutional interest fades, some in the crypto community suspect manipulation. Samson Mow, CEO of Jan3, claims Bitcoin’s price suppression feels “manufactured.” According to him, large players may be selling as retail buyers continue to purchase. This alleged manipulation isn’t new. In past cycles, whales have been accused of influencing prices. With more institutions involved now, concerns about market control have grown louder.
What’s Next for Bitcoin?
Currently, Bitcoin trades at $96,180, down 2% in the last 24 hours. Analysts expect the price to hover around $100,000 in the short term. Without a major catalyst, sideways movement seems likely until late 2025. Long-term projections remain bullish, with price targets ranging from $150,000 to a staggering $2 million.
Investors remain hopeful, but caution is key. Whether institutional demand returns or manipulation claims gain more traction, Bitcoin’s journey to new highs won’t be easy.
