Starkiller declares that the bull market is starting—but it’s only coming out now, after it closed out all the shorts last month.
When shorts cover, the market loves to hear it as longs entering. Covering can push price up for a while—but after that push ends, who’s left to buy? It claims BTC and ETH have climbed above their 200-day moving averages as proof of a bottom. But in crypto, this kind of “breakout” has happened as a fake-out way too many times: the day it breaks is the most lively, and after that, it still has to drop.
The time when institutions say they have “high confidence” is usually already after the market has run up through the fattiest part. Whether a bull market has started or not doesn’t depend on who shouts—it depends on whether anyone is willing to keep chasing from this level.
When shorts cover, the market loves to hear it as longs entering. Covering can push price up for a while—but after that push ends, who’s left to buy? It claims BTC and ETH have climbed above their 200-day moving averages as proof of a bottom. But in crypto, this kind of “breakout” has happened as a fake-out way too many times: the day it breaks is the most lively, and after that, it still has to drop.
The time when institutions say they have “high confidence” is usually already after the market has run up through the fattiest part. Whether a bull market has started or not doesn’t depend on who shouts—it depends on whether anyone is willing to keep chasing from this level.