According to André Dragosch, most valuation frameworks—including liquidity-adjusted, gold-relative, and structural models—indicate Bitcoin (BTC) is trading below its macro fair value as we enter 2026, signaling a mispriced market rather than a misunderstood one, Source: André Dragosch on X, Nov 25, 2025. According to André Dragosch, the next edition of The Bitcoin Macro Investor will dissect the current state of the liquidity cycle, how institutional positioning is evolving, and the key on-chain and macro signals Bitcoin is emitting, Source: André Dragosch on X, Nov 25, 2025. According to André Dragosch, the session is a 60-minute live format with Q&A and is labeled not investment advice for professional investors with capital at risk, Source: André Dragosch on X, Nov 25, 2025.

According to @CoinMarketCap, Bitcoin whales purchased over $4.6 billion in BTC this week, marking the second-largest accumulation of 2025 as of Nov 13, 2025 (source: @CoinMarketCap on X, Nov 13, 2025). BRN's head of research said the evidence points to institutional positioning behind the buying, indicating large-scale demand from bigger players (source: @CoinMarketCap relaying BRN's head of research on X, Nov 13, 2025).

According to Morgan Stanley strategists, crypto is in the fall season of Bitcoin's four-year cycle; source: Morgan Stanley strategists. They describe this phase as a period when institutional investors evaluate position strategies ahead of potential market shifts; source: Morgan Stanley strategists. For traders, this highlights a market environment driven by institutional positioning and timing around potential BTC cycle turning points; source: Morgan Stanley strategists.