Bitcoin All-Time High in 2025? Odds Have Slipped, Says Expert

Swan Bitcoin CEO Cory Klippsten says institutional capital is flowing into crypto, but individual investors still punch above their weight in moving Bitcoin's price. Klippsten pushed back on a common market belief, pointing out that while people assume institutions like BlackRock and Fidelity own most Bitcoin ETFs, the reality is quite different. The vast majority of ETF holders are retail investors looking for easy exposure. He added that ETF issuers are forced to actually buy Bitcoin on the spot market and custody it, making that demand real and material to the market.

An altcoin has been dealing with serious network outages for the past two days, and they've issued an official statement about it. Classic.

On the flip side, Klippsten warned that financial products like futures contracts can inflate the "paper supply" in the market. His point: Bitcoin's most important feature is staying a real asset on the blockchain, not getting muddied with synthetic exposure.

Looking ahead, Klippsten said expectations for Bitcoin hitting a new all-time high in 2025 have taken a hit. When Bitcoin traded near $95,000, he put the odds of a new peak before year's end at roughly 50%. After the price dropped to the $60,000 range, he dialed those probabilities down to 20-25%. Not great.

Meanwhile, data shows about $2.9 billion has flowed out of US spot Bitcoin ETFs since May 15th. During that same stretch, Bitcoin shed roughly 9.5% of its value. The Fear and Greed Index sits at 23, firmly in "extreme fear" territory, which usually means cautious vibes across the market.

*This is not investment advice.