#Bitcoin doesn’t look bullish.
That’s why it is.
While timelines are bored, fearful, or waiting for “confirmation,” Bitcoin is trading near cycle highs and doing something far more important than pumping: absorbing institutional liquidity.
This cycle isn’t driven by hype — it’s driven by structure.
Bitcoin now trades through institutional rails: spot ETFs, CME futures, options, custody, prime brokers. That changes everything. Real capital allocates quietly before narratives catch up.
Short-term volume looks boring because it’s supposed to. The real signal is in derivatives, open interest, and