The Bitcoin market has seen significant changes recently, sparking heated discussions among industry insiders.

Blockware analyst Mitchell Askew made an interesting point, stating that Bitcoin has already passed its "teenage rebellion phase." This assertion stems from the noticeable decrease in Bitcoin's price volatility since the launch of the U.S. Bitcoin spot ETF in January this year.

Specifically manifested in the following aspects:

First of all, the volatility of Bitcoin has significantly decreased. Bitcoin, which was once known for its dramatic fluctuations, now shows a more stable trend. This change may be related to the daily regular purchases of Bitcoin by ETFs, making large investors hesitant to easily manipulate the market.

Secondly, despite the reduction in short-term volatility, the long-term target price remains optimistic. Some analysts believe that Bitcoin reaching $100,000 in the next decade is still possible, but the price increase may show a more gradual trend.

Again, the structure of market participants is changing. The launch of ETFs has attracted more traditional financial institutions such as pension funds and hedge funds into the market, which may reduce the proportion of speculative retail investors.

Bloomberg analyst Eric also expressed his views on this. He believes that lower volatility is more conducive to attracting institutional investors, which may increase the likelihood of Bitcoin being used as a means of payment, but it also means that the era of extreme volatility may be gone for good.

These changes essentially reflect the further integration of cryptocurrencies with traditional finance. The continued inflow of institutional funds may increase market liquidity, further reduce volatility, and lay the foundation for long-term healthy development.

Market participants have differing views on these changes. Some long for the high volatility of the past, others welcome more stable growth, while some are cautious about the entry of institutional investors. Regardless, these changes signify that the Bitcoin market is entering a new stage of development.