ChainCatcher News, Gemini co-founder Cameron Winklevoss stated that Bitcoin reaching $80,000 is primarily driven by continuous institutional demand through spot Bitcoin ETFs, rather than retail investor activity.

He believes that this 'sticky' demand from institutional investors is a sign of long-term bullish sentiment, and the current market cycle is still in the early stages.

Winklevoss stated: "The road to Bitcoin reaching $80,000 is paved by stable ETF demand. It is not retail FOMO. There is no fanfare. People are buying ETFs, not selling them. This is sticky HODL-style capital. The bottom price continues to rise, and we just won the coin toss; the game hasn't really started yet."