Institutions are different in that they don't like to chase price.

They understand that markets go through ups and down cycles.

So in my view, they're going to sit there and they're going to wait until the price is right, and they're going to buy in and people aren't going to see it. Crypto Twitter is going to be as bearish as they ever are, and they're going to sell the bottom and it's going to be the exact same as every single previous cycle, and the smart money's going to come in and take it running.

And what I think is really different is the allocators who buy in this downturn,

they're not looking for a 10% move. These are going to be like just forever allocators, but they just put it away. And once the market finds that level, we've built a floor at a significantly higher price with a whole new, like, I've been called it the great rotation. The old hands who've been around since like 2010, they've finally been able to exit their 10,000 Bitcoin positions for the first time ever and not have the feds up their ass for suddenly having a billion dollars in the bank account. They've been able to exit, and these new entities who are relatively price insensitive because they're just so big, they're actually on the

buy side. So I think it's just a real switching of the guard. So the market moving forward will be

different to the market. And I think we're in this like estuary between like the old crypto wild west

and what is kind of be a new much more institutionalized asset. Welcome back to the Blockspace podcast brought to you by CleanSpark.

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Howdy y'all, Charlie here. Watch our new documentary, The Bitcoin Professor, featuring Starkware

co-founder Ellie Bin Sassan as he and I hit the road to meet with real Bitcoiners in the

American Heartland. We visit a Bitcoin mine, a Bitcoin cattle ranch, and a local Bitcoin

meetup. Discover how Ellie and Starkware are building tools to supercharge the Bitcoin economy.

Watch the full documentary today on our YouTube channel, links down below in the show notes.

Welcome back to the block space spot. I've got James Check, check media, co-founder of Check on

Chain in the house today. He's going to tell us definitively without a shadow of doubt whether we're in a bull or a bear market. Obviously, I'm not serious about that. He is an analyst, long-time analyst. Welcome to the pod, James. How you doing, mate? Oh, mate, we're definitely in a bare market. Look at the price. Terrible. It's a total over. It's dead once again. I mean, if you check the news, everybody's talking about AI, which that's fun, but my money's

in Bitcoin.

...