Insight: Long-Term Capital Will Take Over from Bitcoin, and This Round of Selling Pressure Mainly Comes from ETF Allocators Exiting

BlockBeats News, February 24th: EMJ Capital founder Eric Jackson stated that despite ongoing institutional fund outflows, Bitcoin is undergoing a "purification" process. Short-term speculators are gradually being eliminated, replaced by long-term capital holders such as sovereign wealth funds, corporate treasuries, and pension funds with holding periods spanning decades.

Jackson believes that Bitcoin has devolved into a "high-beta position" correlated with tech stocks. The current selling pressure mainly comes from ETF allocators exiting. However, this is not the end of the Bitcoin narrative but a restructuring of the holder composition. He expects that as stablecoin supply returns and selling pressure from the IGV subsides, Bitcoin is poised to regain upward momentum.