Sygnum Bank Chief Investment Officer Fabian Dori wrote in CoinDesk that while the crypto market has become more institutionalized with spot ETFs, derivatives, and regulated custody, its short-term price action remains highly susceptible to headlines. He argues that the market's structure now pulls on everyone, turning a single story into a price move. Dori suggests that investors should prioritize underlying data such as funding rates, fund flows, and on-chain positioning over daily narratives, citing examples like market reactions to MicroStrategy's Bitcoin sales and spot Bitcoin ETF outflows, which often diverged from what long-term holders or derivatives data indicated. He emphasizes that the real edge lies in investing based on data, not speculating on news.