Key Takeaways
- Bitcoin’s price gains are attributed to recovering market liquidity and increased institutional demand.
- Coinbase’s John D’Agostino clarifies that the recent Bitcoin rally is not directly linked to events in Venezuela.
Bitcoin’s recent rally is being driven by recovering market liquidity and strong institutional demand rather than geopolitical events like the US intervention in Venezuela or the capture of Nicolas Maduro, according to John D’Agostino, Coinbase’s head of institutional strategy.
D’Agostino highlighted market makers rebuilding positions as a key factor driving Bitcoin higher, along with rising retail sentiment, strong institutional momentum, and Bitcoin’s decades-long performance as a store of value.
According to him, Bitcoin has gained over 11,000% in the past decade compared to gold’s 260% and the S&P 500’s roughly 300% rise.
On institutional adoption, D’Agostino said no major institution working on crypto strategies pulled back despite Bitcoin’s 6% decline in 2025.
He noted that regulatory momentum has accelerated institutional timelines rather than slowed them.
D’Agostino also addressed Bitcoin’s volatility concerns, acknowledging that while the asset remains volatile, it has become less so over time.
He pointed to expanding use cases, including new regulations allowing Bitcoin as mortgage collateral and partnerships enabling spending at thousands of vendors.
Regarding ongoing public skepticism around crypto, D’Agostino said that senior institutional leaders no longer openly doubt Bitcoin’s viability. He noted that few, if any, executives at the partner level would now claim Bitcoin is going to zero.
Source: https://cryptobriefing.com/bitcoin-rising-on-liquidity-recovery/
