Analysis: The parabolic bull market and the devastating bear market will no longer exist, and Bitcoin's future will see continued consolidation, oscillation, and upward movement.

BlockBeats News, July 27th, Blockware BTC analyst Mitchell Askew stated that Bitcoin will no longer experience a "parabolic" price surge or a "devastating" bear market, as the existence of a spot ETF has permanently reduced volatility and altered market dynamics. Bitcoin looked like two completely different assets before and after the ETF launch, and will achieve $1 million through continued oscillation between "rallies" and "consolidation" over the next 10 years. This journey will be boring for everyone and will squeeze out short-term speculators. The chart shared by Mitchell Askew shows that Bitcoin's price volatility has significantly decreased since the launch of the Bitcoin ETF in the U.S. in January 2024.

Bloomberg's Senior ETF Analyst Eric Balchunas previously stated that the reduction in volatility helps Bitcoin attract larger investors and provides a first-line opportunity for it to be adopted as a currency, but the cost may be the absence of "god-tier candlesticks." The spot ETF further intertwines traditional finance, institutional investors, and the crypto asset market.