This sudden surge has nothing to do with Bitcoin itself.
In a week, Bitcoin has jumped over 20%, climbing from above 60,000 all the way back to the 80,000 mark. But some people are pouring cold water on it, saying this rally has nothing to do with Bitcoin itself.
A CoinDesk news article lists a long string of reasons: Treasury buybacks, a weaker U.S. dollar, cooling inflation data, ETF inflows, fiat-currency depreciation anxiety, the return of the “digital gold” narrative, the AI profit boom, renewed institutional demand—everything points to external factors.
As for Bitcoin itself: the Coldcard wallet crisis, the BIP upgrade drama, declining hash rate, and the unresolved quantum-resistance question—these are all ignored by the market. It still goes up; it’s going to go up.
The article also cites research from the Cleveland Fed, saying that many investors treat crypto investments like speculation—when sentiment is hot, they rush in; when sentiment fades, they pull out. That’s why price is especially sensitive to macro news.
The conclusion is painful: Federal Reserve officials may have far more influence on crypto prices than Bitcoin developers do. A dovish shift in monetary policy this autumn could push things further. If inflation once again comes in above expectations, the effect could go the other way. As for any revolutionary self-custody solution— the market basically can’t be bothered to look.
Harmony thinks this round of Bitcoin is looking more and more like a puppet controlled by the macro market. The good news is that easy liquidity will be the first to benefit it. The bad news is that the moment liquidity tightens, it will be the first to take a hit. Instead of studying on-chain data, it’s better to watch the central bank’s mood.
An interactive question: For the next round of surge, who do you think will trigger it? Chat in the comments.
Click the avatar to watch the live stream.
Every day, I’ll take you to follow Bitcoin’s macro highlights—not just what’s happening in the news, but how to understand the logic and opportunities behind it 👉🦖
#比特币 #macroeconomics
In a week, Bitcoin has jumped over 20%, climbing from above 60,000 all the way back to the 80,000 mark. But some people are pouring cold water on it, saying this rally has nothing to do with Bitcoin itself.
A CoinDesk news article lists a long string of reasons: Treasury buybacks, a weaker U.S. dollar, cooling inflation data, ETF inflows, fiat-currency depreciation anxiety, the return of the “digital gold” narrative, the AI profit boom, renewed institutional demand—everything points to external factors.
As for Bitcoin itself: the Coldcard wallet crisis, the BIP upgrade drama, declining hash rate, and the unresolved quantum-resistance question—these are all ignored by the market. It still goes up; it’s going to go up.
The article also cites research from the Cleveland Fed, saying that many investors treat crypto investments like speculation—when sentiment is hot, they rush in; when sentiment fades, they pull out. That’s why price is especially sensitive to macro news.
The conclusion is painful: Federal Reserve officials may have far more influence on crypto prices than Bitcoin developers do. A dovish shift in monetary policy this autumn could push things further. If inflation once again comes in above expectations, the effect could go the other way. As for any revolutionary self-custody solution— the market basically can’t be bothered to look.
Harmony thinks this round of Bitcoin is looking more and more like a puppet controlled by the macro market. The good news is that easy liquidity will be the first to benefit it. The bad news is that the moment liquidity tightens, it will be the first to take a hit. Instead of studying on-chain data, it’s better to watch the central bank’s mood.
An interactive question: For the next round of surge, who do you think will trigger it? Chat in the comments.
Click the avatar to watch the live stream.
Every day, I’ll take you to follow Bitcoin’s macro highlights—not just what’s happening in the news, but how to understand the logic and opportunities behind it 👉🦖
#比特币 #macroeconomics
