Bitcoin Bull Run to $200K Fueled by Institutional Liquidity and ETF Growth

The potential for Bitcoin to rise to between $150,000 and $200,000 by 2025 is highlighted by Charles Edwards, who notes that the convergence of ETFs, institutional investors, and liquidity signals a historic bull phase. Institutional and policy funds are increasingly concentrated in Bitcoin alone, leaving alternative cryptocurrencies behind. Over the past decade, repeated cycles of altcoin investment have resulted in retail investors incurring losses exceeding 99%, often due to scams and major incidents like FTX, leading to a learning curve that diminishes altcoin inflows. However, a resurgence in altcoins might occur if Bitcoin demonstrates a strong trend and the breadth of altcoins above moving averages increases to 20-30%. If Bitcoin's price reaches 140K while altcoin market cap remains subdued, it could herald a true altcoin rally. Conversely, if altcoins surge before Bitcoin consolidates, it may indicate the cycle's final phase, with Bitcoin dominance potentially soaring to 80-90%. The traditional 4-year halving cycle is considered outdated due to the influence of ETFs, institutions, and treasury buying, which reduce supply pressures. Today, Bitcoin's movements are more driven by macroeconomic indicators, with institutions and policy funds leading the market rather than retail investors. Most altcoins have failed to meet promises or narratives, weakening market confidence, although in a Bitcoin bull scenario, short-term bubbles could still emerge.