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Sunday Nov 2 2025 01:20
2 min
Wall Street veteran and macro analyst Jordi Visser posits that Bitcoin may be in the midst of a large-scale distribution process, closely resembling an unofficial Initial Coin Offering (ICO). Early investors are relinquishing their holdings, while new investors are acquiring tokens, leading to a broader distribution of the supply across a larger pool of individuals.
According to Visser, older coins that have remained dormant for years are now steadily moving, while new investors are stepping in to accumulate during dips. Visser argues that this shift represents a transition from concentrated ownership to a more sustainable distribution, with early investors passing the torch to long-term holders who have purchased at higher prices and possess different motivations.
Visser points out that Bitcoin's price has been fluctuating between $106,786 and $115,957 over the past week. He draws a parallel to the consolidation process that often occurs after a company's IPO, where early investors begin to sell their positions. He notes that new entrants are accumulating Bitcoin, but cautiously, awaiting the completion of the distribution before becoming more aggressive.
Despite the Crypto Fear & Greed Index indicating a 'fearful' market sentiment, Visser believes that there is a strong underlying faith in the asset, as evidenced by ongoing approvals for exchange-traded funds, Bitcoin's network hash rate reaching new highs, and the increasing adoption of stablecoins.
Visser anticipates that the 'IPO' phase will persist for some time, eventually leading to reduced volatility as ownership is distributed among a larger number of individuals. He advises patience and expects continued consolidation, suggesting that positive news is already present and the market will begin to rise without warning.
Risk Warning: This article represents only the author’s views and is provided for informational purposes only. It does not constitute investment advice, investment research, or a recommendation to trade, nor does it represent the stance of the Markets.com platform. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients.
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