Bitcoin went up today. Everyone agrees on that much. What's driving it is another story, and a fresh opinion market on Morfi has turned the question into a full-blown whodunit.
The early front-runner is "Institutional spot demand" at 38% consensus, backed by 12 holders. That's the big-money suits-buying-the-dip theory. The crowd seems sure the whales did it.
Not so fast, says the macro crew. "Macro risk-on sentiment" is close behind with 24% consensus and 3 holders. Their view is that Bitcoin is just along for the ride while the wider market gets its swagger back. Also on the ballot are 2, so the short-squeeze and inflow fans can still pull off an upset.
The market opened less than a day ago and has already pulled in 14 unique traders, with $26,197 put behind their opinions. These aren't anonymous replies. People are paying to back their take. Our opinion, for what it's worth: when price jumps, everyone suddenly knows exactly why.
The percentages measure each side's conviction, not a headcount, and they move fast. Think the whales are getting too much credit? Join the market on Morfi and pick your side before the story settles.