It is too big to die.
I even believe that we also gonna get diminished pullback at around peak bearish knowing the FDV has reached this big and the participation of institutional investors + strategic reserve just put a lot more trust toward bitcoin for the casual people not only to bitcoin maxi.
I would have love to agree with you on your statement that it's too big to die
But the basis of it being Big isn't on a trustworthy ground, The government.
They say things, switch sides as long as it benefits them likewise some of these institutions.
We haven't heard the bankruptcy of ETF companies or criminal drained cold storage that belong to ETF companies right?
This is indeed a problem that could in theory arise in the next bear market and would of course probably lead into panic just like in 2022, or even worse, and it would of course trigger "obituaries" again ("Hey, we said that these companies were a scam!"). However, I think the likelihood is quite low, I expect none of the ETF companies to be managed as dilettantic as FTX and Terra/Luna was.
No ETF has really gotten a bankruptcy that affected investors funds because of the way it's structured and regulated(stricter than cryptocurrency).
The biggest variable Now is that a CEX is used as a custodial, imagine if FTX happens here
Well that would be catastrophic