Chief Economist Fu Peng (who bet against Li Lin last Nov that $BTC would crash 50% within a year) just dropped a wild scenario:
$BTC could pump hard from here → then dump below previous lows → THEN start the real bull run
Meanwhile at Backpack's Hong Kong VIP event yesterday, CEO Weng Xiaoqi shared some alpha on market positioning:
• Oct 2023: Called for caution post-Oct 11 crash
• Feb 2025: First to flag "high value zone" for accumulation (nailed it)
• Now: $BTC moved from "high value" to "fair value" zone — expect chop but still tradeable
Backpack's response? Launched HK's first regulated crypto quant strategy + bringing in RWA assets for cross-asset hedging during volatility
Two scenarios on the table:
1. Fu Peng's chaos theory: Pump → dump below lows → bull market kickoff (low probability)
2. Backpack Research's base case: Choppy consolidation with phased breakouts into new bull cycle
Bigger picture: AI x Crypto convergence is heating up. Narrative shifting to "machine economy" — AI evolving from info assistant to autonomous wealth manager executing onchain tasks
TLDR: Volatility incoming but smart money positioning for the next leg up
$BTC could pump hard from here → then dump below previous lows → THEN start the real bull run
Meanwhile at Backpack's Hong Kong VIP event yesterday, CEO Weng Xiaoqi shared some alpha on market positioning:
• Oct 2023: Called for caution post-Oct 11 crash
• Feb 2025: First to flag "high value zone" for accumulation (nailed it)
• Now: $BTC moved from "high value" to "fair value" zone — expect chop but still tradeable
Backpack's response? Launched HK's first regulated crypto quant strategy + bringing in RWA assets for cross-asset hedging during volatility
Two scenarios on the table:
1. Fu Peng's chaos theory: Pump → dump below lows → bull market kickoff (low probability)
2. Backpack Research's base case: Choppy consolidation with phased breakouts into new bull cycle
Bigger picture: AI x Crypto convergence is heating up. Narrative shifting to "machine economy" — AI evolving from info assistant to autonomous wealth manager executing onchain tasks
TLDR: Volatility incoming but smart money positioning for the next leg up
