Oil prices are not determined entirely by supply, demand, and market sentiment toward the physical product. Rather, supply, demand, and sentiment toward oil futures contracts, which are traded heavily by speculators, play a dominant role in price determination.

Replace the word oil with bitcoin in this sentence. And please remind me why the price of Bitcoin can't be determined in the futures market?

Unlike most products, oil prices are not determined entirely by supply, demand and market sentiment toward the physical product. Rather, supply, demand and sentiment toward oil futures contracts, which are traded heavily by speculators, play a dominant role in price determination.

The path of the plebeian of Order 2.625 is difficult, as it is obstructed by self-centered and greedy short-sellers. Blessed is the shepherd who, in the name of mercy and kindness, leads the weak through the valley of darkness and cascading liquidations. For he is the one who truly cares for his neighbor and brings back the lost children. And I will execute great vengeance upon them with furious punishments, upon those who scheme to short Bitcoin and harm my brethren. And you will know my name is Bitcoin when I will liquidate them BTC

Blessed is that shepherd who, in the name of mercy and kindness, leads the weak through the valley of darkness. For it is he who truly cares for his neighbor and brings back the lost children. And I will execute great vengeance on them with fierce punishments, on those who plot to poison and harm my brothers. My great retribution will befall them, my furious reproof. And you will know that my name is the Lord, when my vengeance falls on you.

С точки зрения рационального человека ты абсолютно прав. Но 98% людей в Мире иррациональны (если не сказать более грубо) и не смогут вычислить скажем log2(1024), если мне не вришь - ну проверь на своих знакомых. Поэтому они инстинктивно  нуждаются в более упрощенной картине мира, так устроено большинство людей - у них есть инстинктивная потребность в вере. И если ты мне не веришь, то просто погугли статистику: 2,2 млрд человек (32% от общей численности человечества) исповедуют христианство, 1,6 млрд (соответственно, 23%) - ислам, 1 млрд (15%) - индуизм, 500 млн (7%) - буддизм, и 14 млн (0,2%) - иудаизм. О какой математике ты им собираешься проповедовать? Несколько миллиардов людей на земле вообще не умеют писать и считать.

Примерно 2,2 млрд человек (32% от общей численности человечества) исповедуют христианство, 1,6 млрд (соответственно, 23%) – ислам, 1 млрд (15%) – индуизм, 500 млн (7%) – буддизм, и 14 млн (0,2%) – иудаизм.