Interesting moment in the market now. Michael Saylor announced that the Bitcoin winter is over, and he doesn't do that lightly — his company MicroStrategy just added nearly 14,000 BTC to the treasury. But not everyone agrees with him, and that's actually quite understandable.

The price is now around $81K, and yes, that's a significant increase compared to where we were. But was what we've experienced actually a real crypto winter? Mati Greenspan, who closely follows many market movements, sees it differently. He calls it more of a correction within a broader bull market. That difference in interpretation is important — a correction in the crypto market is very different from a full winter.

The flash crash last October was indeed intense, with billions in liquidations within 24 hours. But Greenspan argues that this doesn't even qualify as a real winter. And he agrees with Saylor on one point: Bitcoin has probably seen its bottom and will go higher from here.

What’s interesting is what this says about institutional dominance. Saylor's purchases, along with what some other companies are doing, indicate a shift. This is no longer just retail behavior. Companies and institutions are seriously positioning themselves in Bitcoin.

But Greenspan foresees another phase that could be much larger: national adoption. The US is considering a strategic Bitcoin reserve, El Salvador continues buying, China and the UK already hold significant amounts. This goes beyond correction crypto cycles — this is structural.

The market reacts unpredictably. Bitcoin climbed from $80,700 to $82,400 but pulled back when futures and stocks reopened. Tensions around Iran added extra pressure on risky assets. The sentiment is cautiously optimistic, but volatility remains.

The question is no longer whether Bitcoin will return — that seems fairly certain — but what the next phase will entail. Institutional dominance, national reserves, central banks holding Bitcoin alongside gold. That would be a completely different kind of market than what we've seen so far.