Winklevoss thinks Bitcoin still has room to rise and states that the recent price increase is not due to fear of missing out (FOMO) from retail investors, but rather due to intense demand for ETFs.

In his post on the X platform on November 11, he argued that the price that rose above the $ 80,000 level was a result of institutional demand, not individual investors.

According to Winklevoss, when ETFs are purchased, people do not sell that investment. He says that this is a long-term capital flow and that Bitcoin’s base price is constantly rising.

“People buy ETFs, they don’t sell them. This is sticky capital like HODL. “The bottom level continues to rise,” Winklevoss said, adding that the capital coming into ETFs has provided permanent support in the Bitcoin market.

Although Winklevoss does not give a timeframe for the return of retail investors, he thinks this rise is just the beginning of a new rally. According to him, Bitcoin’s price has yet to see a large influx of retail investors.

However, if this situation changes, a much larger rally in the market could be triggered. These views are in line with other experts’ expectations that Bitcoin could surpass the $100,000 level in the near future.

In particular, some names, such as 1RoundTable Partners CEO Dan Tapiero, predict that Bitcoin could reach incredible levels of $350,000 in the long term.

However, there are those in the market as a whole who are not so optimistic. For example, CryptoQuant CEO Ki Young Ju points out signs of overheating in the Bitcoin futures market and warns that a correction may occur in the short term.

In his post on the X platform on November 9, he stated that a potential correction could pull Bitcoin back to $58,974 levels. According to him, after this correction occurs, the Bitcoin rally may gain momentum again.

At this point, the rapid increase in the price of Bitcoin has attracted the attention of investors in the market. According to some analysts, the entry of spot ETFs into the market will increase interest in Bitcoin, which will help push prices higher permanently.

Winklevoss thinks Bitcoin’s price base is solidifying, especially thanks to long-term positioning by institutional investors. However, this has not yet resulted in a mass return of retail investors to the market.

There are different opinions about what path Bitcoin will follow in the future. While institutional demand keeps Bitcoin prices strong, it is predicted that a new rally could be triggered if retail investors return. However, it is not yet clear when this return will occur.

Currently, Bitcoin is trading at $80,974 and its total market cap has surpassed $1.6 trillion. Bitcoin’s movements in the coming period seem to be shaped by the influence of both institutional and individual investors on the market.

While both sides are being watched carefully in the market, uncertainty remains about the future course of Bitcoin.