Prince Filip Karađorđević, the hereditary prince of Serbia and Yugoslavia, recently shared his views on BTC price’s current market dynamics and potential growth.
In an April 24 interview with Simply Bitcoin, Filip claimed that Bitcoin’s price trajectory may be facing artificial suppression by certain market players.
“People are able to control the market to some extent,” he said, referencing the 2021 cycle, which he believes was held back by outside forces.
That is why Filip warned that the 2025 rate pattern could be similar, postponing price growth. However, he maintained that BTC price will eventually break free, adding,
“There will be one point where [Bitcoin price] will run away.”
Filip reaffirmed his long-term view of Bitcoin as a deflationary asset with rising value. Despite short term pressures he believes that it has upwards overall direction over time$.
The ‘Omega Candle’ Theory and Market Outlook
Filip referred to the “omega candle,” a term promoted by Jan3 CEO Samson Mow. The concept describes a rapid, large-scale move in Bitcoin’s price that may occur once it crosses the $100,000 threshold.
The theory has gained traction among some market observers who believe institutional demand, macroeconomic shifts, and weakening confidence in fiat currencies could set the stage for a sharp rise in Bitcoin value. However, the idea remains speculative, and no timeline for such a movement is certain.
ETF Inflows and Institutional Buying Support Recovery
Bitcoin saw a recovery of over 9% in the past week, largely driven by ETF activity. According to data from Farside Investors, over $2.2 billion flowed into US spot Bitcoin ETFs between April 20 and April 23.
Bitfinex analysts noted that this movement aligned with their expectations related to Bitcoin’s strength compared to equities and the US dollar.
According to Bitfinex analysts,
“Bitcoin is rallying due to a combination of macro relief, strong ETF inflows, and growing expectations that the Fed will maintain policy flexibility amid softening economic data.”
That said, the uptick is viewed amid concerns that macro uncertainty is yet unresolved.
Analysts said that if earnings come in strong, then equities could still move higher but with greater caution due to broader economic pressures.
Retail Exit as Institutions Enter
While ETF inflows showed strength, Coinbase Institutional’s Head of Strategy, John D’Agostino, noted that institutional and sovereign funds were responsible for much of the recent Bitcoin accumulation.
Speaking to CNBC, he explained that many retail investors were reducing their exposure, leading to net negative ETF flows of about $470 million in April.
“Institutions, sovereigns, patient pools of capital were piling in,” D’Agostino said, suggesting a change in who is driving the market.
He pointed to de-dollarization, inflation hedging, and a shift away from tech-related asset correlation as the reasons behind institutional interest.
Noting that some sovereign funds are choosing to hold Bitcoin in local currencies due to weakening confidence in the US dollar, he stated,
“If you think [the] dollar is going to weaken, then you don’t [convert Bitcoin to dollars] anymore.”
BTC Price Behavior and Market Sentiment
BTC’s current price is around $93,075, following a 0.72% drop over the last 24 hours and a 9.95% gain in the past week.
This temporary recapture of the market’s short-term holder (STH) cost basis showed some signs of strength in the market.
Despite this, analysts remain cautious. Glassnode data showed nearly 5% of Bitcoin supply rotated during this recent price movement.
Profit taking activity and short positions are building. These two factors are adding to the confusion on the market sentiment.
There are ongoing discussions about whether Bitcoin is beginning to move independently from risk assets like tech stocks.
But while, from some observers, it is behaving more like gold, it is not. But analysts say it is yet too soon to verify a trend that would last.
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