#比特币价格 After seeing Bernstein's analysis report, I'm a bit confused 😅, breaking the 4-year cycle, extended bull run, $200,000 in 2027... these concepts piled together feel like a lot of information 🤯

However, I noticed a detail—the report stated that even if Bitcoin pulled back by 30%, the funds flowing out through ETFs were still less than 5%. Doesn't this suggest that institutional money is continuously buying in? It seems to contrast with the panic selling of retail investors?

What impressed me the most is the target price of 1 million dollars by 2033😳. Although the time span is long, it gives me a sense of long-term optimism. However, as a novice, I'm still a bit uncertain about how to understand "extended cycles"—does it mean that this bull run will be steadier and last longer, or does it imply that the fluctuations will be more complicated?

Is there an experienced person who can help me explain why the investment trends of institutions are so important? I feel that grasping this logic will be key to understanding market trends 💭