Wall Street Veteran Says Bitcoin Has Entered a New Market Regime
TL;DR
- Andy Baehr, a former Morgan Stanley derivatives executive, says Bitcoin’s move above $80,000 signals a new market regime.
- Nearly $2 billion flowed into U.S. spot Bitcoin ETFs over five sessions, while heavy short liquidations accelerated the breakout.
- Baehr also sees strength in Ethereum and Solana as evidence that investors are increasingly positioning for broader blockchain adoption, tokenization, and stablecoin growth.
Bitcoin has moved into a different trading phase after breaking above $80,000, according to Andy Baehr, managing director of asset management at GSR and a veteran of Wall Street derivatives desks. The move followed weeks of muted activity and renewed institutional demand, suggesting that the market’s underlying structure may be changing.
Why Baehr Sees A New Bitcoin Regime
Bitcoin briefly reached $81,272 on Monday, its first test of the $80,000 level since May. Baehr said GSR had watched a “super slow summer” give way to stronger momentum within days. U.S. spot Bitcoin ETFs recorded nearly $2 billion in net inflows across five consecutive sessions, reinforcing the view that institutional demand has returned.
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