Bitcoin: Institutional-Led Supply Shock, But Avoid Chasing Euphoria

I see a medium-term bullish case for Bitcoin driven by growing institutional and corporate demand — examples include Norway's increased indirect exposure, Bitwise's flagged drivers, and ongoing debate in the U.S. about strategic BTC reserves.

That said, I remain cautious in the near term: exchange hacks, sanctions, liquidation spikes and euphoric on-chain buying often coincide with local tops and raise operational and timing risks.

I will therefore prefer to accumulate on weakness, monitor liquidation and flow metrics closely, size positions conservatively and avoid chasing rallies driven by short-term euphoria.