I noticed an interesting point in recent discussions in the market. It seems that the volatility we see in Bitcoin is becoming a serious problem for those who believe in its long-term narrative as a reliable asset. In theory, when the price jumps by tens of percent due to leverage and speculative positions, it undermines the very story of Bitcoin as digital gold, which should be a stable store of value.

Here's what's interesting: even among major institutional players, like BlackRock, they are starting to openly talk about this issue. Heads of their digital asset divisions point out that excessive lending and speculation create artificial volatility that works against the long-term recognition of Bitcoin as a serious asset.

In theory, this makes sense. If Bitcoin constantly fluctuates due to short-term speculative flows, investors who rely on stability might start rethinking their positions. Volatility caused by borrowed funds is not an organic market movement but a result of excessive leverage in the system.

It's interesting to observe how institutions are gradually beginning to voice these issues publicly. This could mean that the discussion about market health and the sustainability of the Bitcoin narrative will only intensify.