tha

@BinanceOracle $BNB #BIN
Something appears to be off with the Bitcoin price, according to Galaxy Digital founder and CEO Mike Novogratz, as the hunt for a market floor grows increasingly urgent. Meanwhile, another Michael—this time of the Burry variety—warns of a potential "death spiral" for BTC's value. Naturally, Novogratz has a personal stake in the outcome, so when he told Bloomberg TV yesterday that the bottom could settle between $70,000 and $100,000, it's easy to see why some might treat his outlook with skepticism. That said, a similarly critical lens could be turned on Michael Burry's commentary. After all, he's the ultimate short-seller—always scanning for assets to bet against. If you can resist the urge to panic and possess the risk appetite needed for calm,
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measured analysis, it's worth taking a moment to hear Novogratz out: On Monday, Bitcoin slipped below $73,000, erasing all the gains from the so-called Trump bump. At current levels (around $75k at the time of writing), investors are keeping a close watch on Strategy, as its net asset value shifts from a premium to a discount. Should Bitcoin fall another 10% to roughly $65,000, Burry suggests that Strategy will find "capital markets essentially closed." As Digital Asset Treasury (DAT) stocks take a hit—194 public companies and 72 private firms currently hold Bitcoin on their balance sheets—it's worth noting that some unrealized losses carry more weight than others. Fears of imminent bankruptcy appear largely exaggerated. Next in line are the miners,
#BIN $AAPLB
who could accelerate the downward spiral. For Burry, there is no floor. Bitcoin lacks a valuation framework because "there is no organic use case reason for Bitcoin to slow or stop its descent." And quietly operating in the background are the ETFs. Their launch was met with much excitement, but more than any other instrument, they've made it simpler for retail investors to speculate—and have strengthened the link between Bitcoin and equity markets. On that final point, though, the correlation seems somewhat one-sided. When the Nasdaq drops, Bitcoin follows suit. But when the Nasdaq rebounds, Bitcoin tends to vanish from the scene.
#CoinEX #THA