Looking Back from 2030 to 2025: The Year Wall Street Officially Took Over Bitcoin | by Daii | The Capital | Mar, 2025
15 hours ago
Sometime in 2030, when BlackRock’s Bitcoin ETF surpassed the scale of the S&P 500 index fund, traders on Wall Street suddenly realized: the thing they once mocked as a “dark web toy” now held the lifeblood of global capital.
But the turning point began in 2025 — that year, Bitcoin’s price surged past $250,000 amid institutional whale hunts, yet no one could clearly say who owned it. On-chain data showed that over 63% of circulating supply was locked in institutional custody addresses, and exchange Bitcoin liquidity dried up to the point of supporting only three days’ trading volume.
The above is a fantasy; let’s return to the present.
A large amount of funds is continuously flowing out of Bitcoin ETFs, with Bitcoin once dropping below $80,000. This phenomenon is mainly explained by two aspects: first, on the policy front, it’s due to President Trump’s initiation of a tariff war; second, on the capital front, it’s because 56% of short-term holders — hedge funds — are closing out arbitrage strategies.
However, analysts believe we are currently in the “distribution phase” of the Bitcoin bull market.
The “distribution phase” of a Bitcoin bull market usually refers to the period around the peak in the later stages of a bull market, where large holders (“whales”) begin to gradually sell off their holdings, transferring Bitcoin from early holders to new investors entering the…
