Despite strong institutional demand, Bitcoin’s price remains stuck in neutral—and according to Neoclassic Capital’s Joseph Bucella, there are two forces keeping it there.
Speaking to CNBC, the former Goldman Sachs executive explained that investors are rotating away from direct Bitcoin exposure and into crypto-related stocks.
Public firms like Coinbase and other companies with sizable BTC holdings are becoming the preferred way to gain exposure, effectively acting as substitutes for the asset itself.
At the same time, Bucella pointed to financial stress in the mining sector. Many miners are facing shrinking profit margins and, in some cases, running at a loss.
Without lucrative AI or hyperscale computing contracts to offset costs, some are tapping into their Bitcoin reserves to stay afloat, adding further pressure on the market.
These combined trends—risk shifting and miner-driven selling—are limiting Bitcoin’s ability to rally, even as demand from ETFs and corporate treasuries remains robust.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/why-bitcoin-cant-break-out-former-goldman-exec-points-to-two-key-headwinds/