The current BTC price depends on Strategy support, and venture capital has not yet entered on a large scale

BlockBeats news, on February 7th, according to Blockworks, Empire analyst Jason Yanowitz pointed out that if we exclude the BTC purchase behavior of Strategy (formerly MicroStrategy), the current cycle may still be in its early stages. The current BTC price is completely dependent on the over $20 billion thrown by Strategy from the end of last year to now. The current market is still in the 'player vs. player' (PvP) stage, and venture capital has not yet entered on a large scale. Dan Matuszewski of CMS Holdings agrees with this and points out that the impact of the bear market in 2022 is still ongoing, and the market liquidity is basically lacking, unable to drive substantial capital inflows. Except for a few selected targets, there has not yet been a large-scale inflow of funds. The debate about 'whether it has reached its peak' will intensify. But regardless of the position in the cycle, we must recognize that the new regulatory authorities have just started and their policies may become catalysts in the future.