Bitcoin is putting on a show with a 'solo bull market.' Current price is around 83,300. Narrow fluctuations, it’s not directionless—it’s waiting for a signal and building momentum. The U.S. 10-year Treasury yield briefly broke 5.36% last week, a 24-year high. Meanwhile, the Nasdaq is swinging back and forth amid doubts about AI revenue. Macro pressures are mounting, but BTC’s price hasn’t collapsed. The 83,000 level is the average cost for ETF investors. Over the past few weeks, it’s been tested repeatedly. 80K, on the other hand, is a strong support level. Every test is a shakeout. And what about ETF institutional funds? Last week, there was a net outflow of about $680 million. But this week, BlackRock, Fidelity, and Ark have already started buying back in. Institutions are shaking out, not retreating. Funds are shifting from ETF-swinging institutions to 'old money and seasoned hands.' TD Cowen just raised its year-end target price from 97,500 to 109,000. Bernstein’s target is 125,000—though that might be a bit too optimistic. Every bull market is born in doubt; every pullback is building strength for the next rally.