Alright, CryptoQuant CEO Ki Young Ju is willing to take the L on this one – he called the end of the Bitcoin bull run. Fine. We all make mistakes. What’s the real narrative here? Sure, that’s part of the story—the big boys, huge institutional investors, and the rush of ETF inflows. It's about the memes, baby! This “new era” of Bitcoin is clashing uncompromisingly with NFT culture. It produces a pageantry both ridiculous and glorious, a force of society that might only be possible in our current epoch of the internet.

NFTs Reacting? Embrace, Mock, Ignore?

The TradFi invasion is here. Bitcoin is getting institutionalized. But what does that mean for the bustling, colorful, messy world of NFTs? Are we seeing a unified front? Hell no. Instead, we're witnessing a glorious culture clash.

Keeping that in mind, there are some NFT projects hoping to gain favor from the Bitcoin community, exploring Bitcoin in artistic ways or outright bridging functionality. Perhaps they’re miscalculating and hoping the rising tide will indeed lift all boats. Others? They're straight-up mocking the whole thing. Think about it: the ultimate rebellion against the establishment is being co-opted by... the establishment? The irony is chef's kiss.

Other folks well outside the Bitcoin fad. They’re too busy planning their own metaverse empires to give a damn about what the “boomers” are doing. And honestly, that's a valid strategy too.

New Era, New Memes, New Lulz

Let’s not kid ourselves, the highlight of any new market move is the associated memes that follow. Well this “new era” of Bitcoin is certainly ever delivering in spades.

We have the “laser eyes” brigade, the ETF pump memes, and the apple pie incessantly made out of “number go up.” The real gold is in the meta-memes. These sly, clever riffs perfectly encapsulate the absurdity of institutional investors trying to get a handle on crypto culture. Picture this boardroom scene when some suit has to explain Doge to his board. Pure comedy.

And they’re putting the memes into their work, making some art that’s both really funny and really helpful and thought provoking. Digital painting, Techno, theatre, video art — contemporary art practices are responding to the zeitgeist of today. This was the turning point that allowed Bitcoin to go from niche internet money to more widely held speculative asset class, with an increasing number of suits joining the party.

TradFi Money Corrupting the Space?

Okay, let's get real for a second. Well, all this institutional money flooding into Bitcoin and, by extension, the NFT market isn’t all sunshine and rainbows. There’s a dark side to this, a potential for tyranny, for the muse-capturing.

  • Price Go Up (Maybe Too Much): Increased liquidity can drive up prices, but it also creates opportunities for manipulation.
  • "Boomer-fication": TradFi influence could lead to a homogenization of the NFT space, a shift towards more "safe" and "investable" art.
  • Innovation Stifled: The influx of big money might overshadow the smaller, more innovative projects that are the lifeblood of the NFT community.

Here's the thing: we can't let that happen. We, the NFT community, should be keeping an eye out. It’s our job to continue to rally around the artists who are taking risks. In this way the art they create is beautiful, subversive and transformational. We have to fight the urge to go corporate, to go after the easy money.

This is our moment to redefine the nexus of artistry and capital. Let's not blow it. Let's embrace the memes, celebrate the absurdity, and fight for a future where art remains weird, wonderful, and truly decentralized. After all, at the end of the day, it’s about more than the dollars. It’s really not necessarily about the code, it’s really about the culture, the community and the lulz. And that’s something no amount of institutional dollars can purchase. Or can it? Now, there is the million-dollar, or maybe I should say one-Bitcoin question.

I don’t mean to disparage this work! As an example, imagine that in 2025, Bitcoin’s price is close to its 365-day moving average. This trend reflects deeper but shorter corrections relative to previous cycles. Let me be as direct as possible when I say that’s wonderful news.