The macro investment researcher, Jim Bianco, believes that unless Bitcoin adopts a different narrative from the recent adoption achievements, it is doomed to be relegated to the margins of the financial world, with no catalysts to support future price growth.

Bianco explained that markets behave like discount mechanisms, which means they price narratives long before events occur.

The researcher assessed that the movement that took BTC from US$25,000 to US$106,000 has ended, and that the rise of BTC to new record prices last year was part of a zombie rally, as what he calls smart money began to exit the cryptocurrency since December 2024.