High Net-Worth Investors Remain Bullish on Bitcoin Amid Market Volatility

Bitcoin is currently trading between $90,000 and $95,000, down over 10% from its recent all-time high. There is a divide among market participants: traders are cautious, while long-term investors remain optimistic about future price increases.

David Siemer, CEO of Wave Digital Assets, notes an unprecedented dichotomy in sentiment.
Traders are hedging their positions, whereas long-term holders are bullish on bitcoin's potential to reach $200,000 this year and potentially $1 million in the future.
Numerous countries, including the U.S., Russia, and Japan, are planning significant regulatory steps to support the crypto sector.
The success of U.S. spot bitcoin ETFs is prompting global financial institutions to innovate and compete.
New strategic bitcoin reserves may emerge, with several U.S. states considering creating a reserve.
The federal government has over $19 billion in bitcoin, which could support a national reserve without needing to purchase additional assets.