rabbits 4 minutes reading from Bitcoin

Making Sense of Crypto Brokers’ Frozen Ecosystem

btc pa/vol point to extinction level event in populist retail interest. only left; legacy hedgoors, mm's, scared traders risking smol & tp'ing after few %, tell everyone to do same. trapped buyers from 40k, 30k (so many) 25k

desperate for bounce to de-risk. w/e pa terrifying

from outside looking in; every single btc narrative completely disproven. the spaces heroes revealed as grifters, larps, criminals. the wrong people, the receive most airtime, appalling behaviour is normalised, lauded, rewarded. forces of regulation coalescing with purpose..

space filled with entitled peeps raised on brrr money was fundamentally unable to foresee, understand or react to macro-economic events. proved wrong on stupendous level for breathtaking period of time. now begrudging acceptance but still refuses to see reality.

now applying standard crypto bear sentiment indicators in face of once in multi-generational macro event? nonsense idea only forced selling brought us to current price. (yet months pass, no demand, numbah sideways). but growing trope that bottom in, all future data priced-in.

impression; crypto bros getting annoyed (scared). bear killing their vibe. for vibe read; peculiar entitled buoyancy outlook that holds whole shitshow together but folds under weight of questioning/hacks/exploits/rugs/reality..

markets are forward facing - yes. but looking like crypto bros still fail to understand macro + retail evisceration and wildly trying to price in own desire for it to be over

in environ with zero gen pop interest, now & for long time. no understanding of 'effects' stage of generational high rates + high inflation on all player debt servicing/liquidity/margin needs in era of all asset depreciation. that just begun..

giga chad multi-cycle tradfi non-hyperbole types freely tell this time uniquely different. crypto bros still believe fed will break out jugs of plenty. haven't listened, same entitled view, same busted space, no lessons learnt. imho gonna roundtrip whole covid move, every asset..

do i need say might not happen in straight line, counter-trend rallies to be expected etc etc.

just be warned as far as crypto goes there's nobody fkin here, like no-one, pretty hard to believe any pa based on who's left. & cant' have new uptrend with zero populist retail & lot of trapped sellers from above know that & are waiting for your bids..

unless u believe magic decoupling from all markets. influenzas love to hint at but no balls to use actual word. all bitcoin narratives disproven & people still believe fairytale. hilarious, if happened in fiat crash all G7 govts would insta-ban. Just remember executive Order 6102

This post is based on this twitter thread.


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