Yan from Delphi drops a reality check: $BTC needs a NEW catalyst to punch through ATHs.
His take? Without fresh debasement fears or a clear macro reason for buyers to step in, the rally stalls.
Translation: Sideways chop until something breaks — either liquidity floods in or a new narrative emerges.
No catalyst = no conviction = no ATH.
Watch for Fed pivots, geopolitical chaos, or ETF inflows to flip the script.
His take? Without fresh debasement fears or a clear macro reason for buyers to step in, the rally stalls.
Translation: Sideways chop until something breaks — either liquidity floods in or a new narrative emerges.
No catalyst = no conviction = no ATH.
Watch for Fed pivots, geopolitical chaos, or ETF inflows to flip the script.