Bitcoin (BTC) has been experiencing muted price action even as various risk assets reach daily record highs. Jordi Visser, a traditional finance asset manager, presented a perspective in a widely viewed essay suggesting that the factors influencing Bitcoin’s price are similar to those affecting stock Initial Public Offerings (IPOs).
In his analysis, Visser highlighted that early investors in technology stocks often require liquidity to realize their gains after major market events. Using the Facebook IPO as an example, he noted that early investors gradually sell off their positions to avoid crashing the stock price, which can lead to a prolonged period of stagnant pricing.
Visser pointed out that the current situation in Bitcoin isn’t a bear market but a “distribution of ownership,” indicating that early holders are methodically managing their exits without significantly impacting the market. This process, he noted, could take 6 to 18 months, even in the typically volatile crypto space.
Current on-chain data shows increased activity in older Bitcoins, suggesting a maturation of the market that allows for significant exits by early holders. This shift is attributed to rising institutional interest and better liquidity, enabling a more stable trading environment.
- Why it matters:
- Understanding Bitcoin price dynamics can inform investment strategies for individual and institutional investors.
- The evolution of market conditions may present future opportunities for holders looking to capitalize on price appreciation.
- The latest: As of recent reports, Bitcoin trading dynamics are being closely monitored due to increased institutional adoption and potential ETF developments, impacting liquidity and market behavior.
Source: https://www.coindesk.com/markets/2025/11/02/bitcoin-s-silent-ipo-analyst-addresses-btc-s-lame-price-action-in-viral-weekend-essay
Source: https://www.coindesk.com/markets/2025/11/02/bitcoin-s-silent-ipo-analyst-addresses-btc-s-lame-price-action-in-viral-weekend-essay