This year, institutional expectations for Bitcoin's price mostly range between $120,000 and $200,000, but looking at the market trend, these predictions seem to have missed the mark. Carefully examining the list of institutional forecasts, you'll notice an interesting phenomenon—the absence of a giant-level player in the list.

That's right, the institution managing the largest assets. It chose to remain silent, while other institutions' optimistic voices seem somewhat pale in comparison. This is not a coincidence but a reflection of the market reality.

To be blunt, the capital that truly wants a piece of the pie in this round of the market has already started playing chess; retail investors often only get the leftovers. As for how much market influence large institutions actually hold, there seems to be little room for debate—data and price trends have already spoken for themselves.