TL;DR Long-term bitcoin holders are selling at the fastest pace since August, and some industry observers suggest the market may be nearing a bear-market bottom. The whole 9 yards of 💩 Bitcoin just broke a key support level, and the chorus of gloomy takeaways is louder than a GPU fan in a data-center during an a.m. leak test. Glassnode—yes, the on-chain oracle that loves turning a data point into a narrative—is warning of more price downside. If you’ve built your thesis around “Bitcoin never goes down,” congratulations: you’ve learned nothing about risk assessment and everything about wishful thinking. If you’ve built a thesis around “Bitcoin is dead,” well, you’ve stayed consistent with your own selective memory. Either way, welcome to the messy middle, where headlines drool and charts spit back nuance with the enthusiasm of a crypto influencer at a coffee shop grand opening. Let’s unpack what “breaking key support” actually means, because the jargon is impressively dramatic u...
Ignorance is not a strategy.