⚠️ #BTC The current structure is somewhat similar to the early days of the 2023 bull market, but similarity doesn’t mean they’re the same.
Back then, the conditions driving the rally were a peak in rate hikes, expectations for liquidity turning, and the early emergence of an ETF narrative.
Now, the macro environment, capital structure, and leverage levels are all different.
It looks similar in chart form, but that doesn’t mean the underlying momentum is the same.
$70K could be an opportunity—or it could just be one step in a downswing.
Using a structural analogy to lock in $100K is treating the reference as the conclusion.
Back then, the conditions driving the rally were a peak in rate hikes, expectations for liquidity turning, and the early emergence of an ETF narrative.
Now, the macro environment, capital structure, and leverage levels are all different.
It looks similar in chart form, but that doesn’t mean the underlying momentum is the same.
$70K could be an opportunity—or it could just be one step in a downswing.
Using a structural analogy to lock in $100K is treating the reference as the conclusion.
