Bitcoin (CRYPTO: BTC) could eventually go to $1 million if it does not go to zero, but institutions, not retail, are increasingly driving the market’s long-term direction, according to Anthony Pompliano.

Why Is Bitcoin Sentiment So Low?

In the latest “From The Desk Of Anthony Pompliano” podcast, Pompliano said the artificial intelligence arms race is accelerating even as Bitcoin sentiment has plunged to extreme lows, driven largely by retail capitulation.

Citing data from Binance Research, he noted that Bitcoin’s Fear & Greed Index recently fell to 5, one of the lowest readings on record and below levels seen during prior major crypto shocks.

Unlike earlier cycles, however, prices and…

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