BTC 1w - WHen $20k
Still in bear mkt
global real economy rekt
legacy has peaked
multiyear recession
only bullish hint is int rates on bonds & btc have had a strong correlation for 1.5yrs
is legacy actually exiting Bonds into BTC? has yet to be seen, but thats the magnitudes of order number of users and dollars that would reduce volatility and increase mcap enough to avoid a negative rebound from all the institutional buying spikes
My main bearish case is that despite the big corps buying in, there has been mostly selling by wallets over 1 btc and total active wallets never broke ath, thats very bearish
global real economy rekt
legacy has peaked
multiyear recession
only bullish hint is int rates on bonds & btc have had a strong correlation for 1.5yrs
is legacy actually exiting Bonds into BTC? has yet to be seen, but thats the magnitudes of order number of users and dollars that would reduce volatility and increase mcap enough to avoid a negative rebound from all the institutional buying spikes
My main bearish case is that despite the big corps buying in, there has been mostly selling by wallets over 1 btc and total active wallets never broke ath, thats very bearish
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