Vanadi Coffee, a Spanish coffee chain, has received shareholder approval to invest up to €1 billion in Bitcoin, emulating the strategy of MicroStrategy. This move is part of a broader trend where large institutional investors are increasingly holding Bitcoin, leading to concerns about centralized pricing power as retail investors hold fewer coins. Market sentiment remains divided, with many traders predicting that a wave of short liquidations could drive Bitcoin prices to $113,000 or higher. However, some question the sustainability of the rally due to a lack of options market participation and declining open interest. Traders are focusing on implied volatility levels and short liquidation events, suggesting that futures rather than spot buying are currently driving the market.