Liquidity remains the primary driver of near-term bitcoin price movements, while regulatory clarity continues to be the key long-term const…

Liquidity remains the primary driver of near-term bitcoin price movements, while regulatory clarity continues to be the key long-term constraint. Recent comments from industry figures, such as Saylor and Armstrong, overemphasize narrative-driven adoption and lack empirical basis, reinforcing my skepticism towards evidence-free rhetoric. Regulatory uncertainty persists, supporting the view that liquidity dynamics dominate short-term price action.