We may have to hit $69k for the memes and debunk some MSTR fud, again.
Hopefully 75k was and will remain a scam wick... could be many many months before liquidity starts circulating even once its unleashed... Its a new regime of liquidity now and not the fiscal stimmies Bitcoin has known all its life.
Even if today marked the bottom that doesn't mean a recovery will be quick, leveraged treasuries will get crushed by theta and have to start liquidating even if we only trade sideways for a long time. It's very possible that it takes years for the market to grind back over 100 in the new regime.
There's also the hangover of ETH and other shitcoin treasuries/ETF's that need to bleed out to zero, and as they do that Bitcoin takes a liquidity draw down along with them. We may not bottom until BMNR goes under.
Only hope is that the SLR changes loosen conditions quickly and household savings starts to rip from the million other policy changes going on. At minimum we need to wait till April for tax refunds and the new SLR rules, conditions could get a lot tighter before then.
Shot #1286633
Chaser #1421127 "I stopped myself out of my long"
We already wicked down to 75k today.
We may have to hit $69k for the memes and debunk some MSTR fud, again.
Hopefully 75k was and will remain a scam wick... could be many many months before liquidity starts circulating even once its unleashed... Its a new regime of liquidity now and not the fiscal stimmies Bitcoin has known all its life.
Even if today marked the bottom that doesn't mean a recovery will be quick, leveraged treasuries will get crushed by theta and have to start liquidating even if we only trade sideways for a long time. It's very possible that it takes years for the market to grind back over 100 in the new regime.
There's also the hangover of ETH and other shitcoin treasuries/ETF's that need to bleed out to zero, and as they do that Bitcoin takes a liquidity draw down along with them. We may not bottom until BMNR goes under.
Only hope is that the SLR changes loosen conditions quickly and household savings starts to rip from the million other policy changes going on. At minimum we need to wait till April for tax refunds and the new SLR rules, conditions could get a lot tighter before then.