TL;DR A drop in bitcoin to $58,000 could renew buying momentum. The whole 9 yards of 💩 By The Royal Flush Bitcoin’s “long-term rally is broken” claptrap is doing pushups in the gym of hot takes again, except this time the guy shouting it is a Deribit executive who sounds earnestly confident while sipping from the volatility fountain. The gist: until Bitcoin reclaims $85,000, the grand ascent is on pause, a mere rumor in a crowded room of technocrats, traders, and people who really want to believe their models. It’s the sort of line that feels both rigorous and utterly contingent on a single price level that hasn’t been conquered since, well, the last time someone told you the next halving would solve all your problems. I’m skeptical, obviously. But I’m also excited, because in crypto land skepticism and excitement are basically interchangeable currency. Let’s talk about that $85k level for a moment. Reclaiming it would mean Bitcoin is not just flirting with new all-time territo...
Ignorance is not a strategy.