Bitcoin price analysis: BTC long-term bull case remains, says Fabian Dori

Fabian Dori, Chief Investment Officer at Sygnum Bank, believes Bitcoin's near-term volatility and potential further downside are driven by a market liquidity squeeze and collapsed investor sentiment, exacerbated by factors like increased Treasury General Account balances pulling liquidity from markets. Despite the current fragility, Dori argues that the longer-term bull case for Bitcoin remains intact, contrasting the current situation with the systemic risks of 2022. He points to improving underlying macro data, such as broadening business cycle activity and subdued inflation trends supporting a Fed rate-cut cycle, which should eventually improve liquidity. Furthermore, crypto-native fundamentals like stablecoin growth and institutional integration remain constructive. Dori suggests that a catalyst, such as comprehensive U.S. crypto legislation, is needed to normalize sentiment and allow the gap between crypto and traditional assets to narrow.

(Source：CoinDesk)