The bears have thrown everything they’ve got at Bitcoin, and it’s still at $83,000
The bears have been busy lately:
First move: AI cracks cryptography. The quantum computing threat—Bitcoin’s elliptic curve signatures are about to be broken. So what happened? BTC didn’t fall.
Second move: Yields. Treasury yields surged, and funds were supposed to flee risk assets. So what happened? BTC didn’t fall.
Third move: Oil. Oil prices soared, stoking inflation expectations and putting pressure on the market. So what happened? BTC didn’t fall.
Fourth move: OpenAI revenue. The AI narrative is sucking up capital, and crypto has no new story. So what happened? BTC didn’t fall.
Fifth move: The Ledger hack. A hardware wallet supply chain attack led to $86 million being stolen. So what happened? BTC still didn’t fall.
The bears played every card they had. Then, 24 hours later, they checked the price of $BTC :
It hadn’t budged—and was even slightly up.
What does this tell us?
First, the bad news is already out. The market has already absorbed all the negative news we can think of.
Second, buying pressure is strong. Every time bad news hit, buyers stepped in.
Third, the bears are desperate. Coming up with so many reasons shows they need BTC to fall. But the market didn’t give them what they wanted.
Only if you believe this is a bull market will you go long on Bitcoin, think like a bull, and look for the opportunities that can change your life!
The bears have been busy lately:
First move: AI cracks cryptography. The quantum computing threat—Bitcoin’s elliptic curve signatures are about to be broken. So what happened? BTC didn’t fall.
Second move: Yields. Treasury yields surged, and funds were supposed to flee risk assets. So what happened? BTC didn’t fall.
Third move: Oil. Oil prices soared, stoking inflation expectations and putting pressure on the market. So what happened? BTC didn’t fall.
Fourth move: OpenAI revenue. The AI narrative is sucking up capital, and crypto has no new story. So what happened? BTC didn’t fall.
Fifth move: The Ledger hack. A hardware wallet supply chain attack led to $86 million being stolen. So what happened? BTC still didn’t fall.
The bears played every card they had. Then, 24 hours later, they checked the price of $BTC :
It hadn’t budged—and was even slightly up.
What does this tell us?
First, the bad news is already out. The market has already absorbed all the negative news we can think of.
Second, buying pressure is strong. Every time bad news hit, buyers stepped in.
Third, the bears are desperate. Coming up with so many reasons shows they need BTC to fall. But the market didn’t give them what they wanted.
Only if you believe this is a bull market will you go long on Bitcoin, think like a bull, and look for the opportunities that can change your life!