According to Odaily, 10xResearch recently shared insights on the X platform, challenging the common belief that Bitcoin's price is influenced by changes in its mining supply. Instead, they argue that demand is the primary driver. Each of Bitcoin's five bull markets has been propelled by innovations in how investors acquire the cryptocurrency. These innovations range from the establishment of early spot trading platforms to the use of contracts, unsecured loans, spot Bitcoin ETFs, and now options on these ETFs.
This development highlights Bitcoin's increasing integration with traditional financial markets. The approval of Bitcoin-related financial products by U.S. regulatory bodies such as the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) has accelerated this trend. Over time, these institutions have played a crucial role in legitimizing Bitcoin-related financial products, further embedding the cryptocurrency within the broader financial ecosystem.
