Jaime Merino, director of TradingLatino, asserts that Bitcoin is currently in a controlled accumulation phase, not a panic zone, despite recent price fluctuations. Merino maintains that the market structure remains bullish as long as Bitcoin stays above USD 99,000. He identifies a strategic accumulation area between USD 99,000 and USD 100,000, with potential for a rebound to USD 112,000–125,000. Merino also highlights the increasing institutional dominance in the market, attributing it to a lack of retail education. He emphasizes the importance of individuals maintaining control over their private keys to ensure Bitcoin's decentralization. CoinShares' analysis supports Merino's perspective, indicating a new phase of institutional adoption and integration into the global financial system.