The bull market didn’t disappear. It moved.
After Bitcoin ETFs went live, capital stopped flowing on-chain.
It stayed inside compliance walls — ETFs, proxy stocks, balance-sheet Bitcoin.
Bitcoin gained structural demand.
Altcoins lost liquidity.
This is Episode 2 of SoSoValue’s $10 Experiment:
how the bull market migrated to Nasdaq.
#SoSoValue #Bitcoin #BTC #ETF