Bitcoin’s resilience does defy traditional monetary theory—but I’d argue ETF inflows (see link) show institutional adoption now drives cycles more than grassroots ‘hodling.’ The 2026 projections suggest price floors are rising, but volatility hasn’t disappeared; it’s just compressed between macro triggers and algo-driven liquidity. Not a failure, but not a frictionless utopia either.

https://theboard.world/articles/bitcoin-etf-flows-price-dynamics-2026