Ferraioli says it straightforwardly: It's not MicroStrategy's fault, it's that the market has no more stories.

CoinWorld news reports that Charles Schwab analyst Jim Ferraioli said Bitcoin did not collapse due to Michael Saylor’s strategy, but rather lost momentum in trading. He noted that Bitcoin has been in a bear market since last October, and despite last year’s approval of spot ETFs and the inflow of billions of dollars in institutional capital into the crypto industry, Bitcoin has still been struggling to maintain the expected explosive rebound. Ferraioli believes that current capital flows into other asset classes—such as precious metals and artificial intelligence—are causing Bitcoin to face competition. He added that investors typically chase momentum, and that momentum is no longer in the crypto market at present.