But institutions don’t like high volatility. That means crypto enthusiasts should forget about Bitcoin doubling in price after every halving. Crypto is gradually turning into a more ordinary asset, much like stocks or forex.
There is so much sense in what you said because I also observed that Bitcoin have been a but more stable in this halving season than the previous ones and the only tangible reason is the approval of Bitcoin ETFs. Many people bought the shares of these companies rather than buying Bitcoin directly and even though these companies do buy Bitcoin with those funds, the effect of those buy orders are not too felt in the market unlike when many individuals are buying within the same time.