Which is still there is a demand, I've seen the bitcoin price before way back before touched the 3k USD and imagine I dont have a money by that time and also seen the two previous all-time high at the 60k and the 120k price so bitcoin now are widely adapted by the institutions which is the ETFs and now even though we started during the bear market still the price of the bitcoin resist to 80k for sure next year of 2027 I guess we can see touches down again at 100k.
Having something new into the market is always amazing and it has kind of effects, big or small, long term or short term but there is one thing that has never changed: Bitcoin market cycle. Each market cycle is different than other cycles, from timelines to ROIs from bottom to ATH, ATH to ATH between two consecutive cycles for example but there is Bitcoin market cycle.
Like in January 2024, even months before that, there were effects from Bitcoin Spot ETF applications, speculations like with BlackRock participation there would be high successful approval rate this time, and actual operations and money flows from Bitcoin Spot ETFs, Bitcoin made its all time high. What happened months later, Bitcoin lost all time high, fell into a bear market while Bitcoin Spot ETFs have been still there.
$80,000 recent days and $80,000 months ago brought very different emotion in market crowd while price is the same just at different times and with different psychology in the market.