Bitcoin is driving the market narrative today, and the catalyst is not retail hype. It is the steady bid coming from spot Bitcoin exchange traded funds. CoinMarketCap shows Bitcoin trading around $87,000 with a 24 hour volume near $47 billion and a market cap around $1.74 trillion, even after a sharp intraday pullback. That blend of high liquidity and large market cap is exactly why institutions prefer to express crypto exposure through Bitcoin first.