Opinion: The failed launch of the Bitcoin strategic reserve and the outflow of ETFs both indicate that the bear market has arrived

Jacob King, the founder of WhaleWire, posted on social media that the bear market for Bitcoin has arrived. The failure of Bitcoin's strategic reserve launch clearly indicates that, apart from confiscated bitcoins, there was never any intention to purchase any other assets. At the same time, the claim of institutional demand has collapsed, with record outflows of ETF funds as proof. All narratives have been shattered - every single one.