The Milk Road Show Bitcoin Prices Are Flat… But the Biggest Shift Is Happening Under the Hood w/ Christopher Kuiper
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Jan 12, 2026 Christopher Kuiper, an Executive at Fidelity Digital Assets and crypto analyst, dives deep into the current state of Bitcoin and the broader market. He highlights that sideways price action often signals significant underlying shifts, with institutions embedding Bitcoin into traditional finance. Kuiper discusses the rotation between gold and Bitcoin as hedges, the impact of investor sentiment, and how derivatives might reshape market volatility. He paints a picture of a maturing crypto landscape, emphasizing the ongoing adoption and integration with traditional finance.
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Calm Price, Deep Structural Change
- Sideways Bitcoin price can mask massive structural change happening behind the scenes.
- Christopher Kuiper says long-term holder selling and flows from spot ETFs are reshaping the market base.
Huge Early-Holder Sell-Off Example
- Christopher Kuiper recounts a 2013-era holder selling $8–$9 billion of Bitcoin in the past year.
- He uses this to illustrate how long-term holders rotating out creates supply pressure and investor turnover.
Manage Patience With Position Sizing
- Do expect investor base turnover and accept consolidation as a healthy normal part of cycles.
- Position sizing helps manage impatience from holding a non-income-producing asset like Bitcoin.
