Genuinely cannot believe people are capitulating at $70k BTC with everything that just happened on the regulatory front. SEC and CFTC jointly classifying BTC, ETH, XRP, and SOL as digital commodities is the kind of news cycle we've been waiting for. It landed and got ignored because Iran and AI stock fears took over the headlines.
On chain the picture is pretty clear. Exchange reserves at seven-year lows, whales accumulating through the dip, ETF inflows positive for nearly a week straight. The money that matters is not leaving.
The Iran situation created a nasty weekend wick, wiped out $400M in overleveraged longs, and shook out weak hands. That's it. That's the whole story. And the 20 millionth BTC was mined this month, with one million left to exist across the next century. The supply side of this has never looked like this before.
$71,400 is what I'm watching. Reclaim that with conviction, and the mood shifts fast.
In the meantime, I'm not touching my stack. Borrowing against it on nехо when I need liquidity and staying fully exposed.
Done panic selling in previous cycles, and it never ended well. NFA.
Bought in 2022. Watched it collapse. Held. Not selling here either.
byu/Classic-Direction778 inCryptoMarkets
Posted by Classic-Direction778
9 Comments
It’s because they are new.
One person’s panic sell is another person profit taking is another person loss limiting.
Risk tolerances are as diverse as personalities.
don’t EVER sell, we are all here for the long term. only borrow from nexo when you need liquidity – that’s the real play
First of all, ignore the headlines..
Second, we now have a target on BTC (160-200K), before we didnt, bitcoin already hit the target on 88 and 110k
Third, if you don’t sell after the price reach the target, you will have to wait until bearmarket is over to sell again.
This type of news in the previous bull cycle (was it 2022?) would have sent everything flying to unseen levels.
Really think something’s fundamentally wrong with the market – or most likely, massive dilution through the issuance of far too many tokens
Panic selling at $70k after holding since 2022 makes zero sense. The fundamentals have never been this strong.
Why sell if you can borrow, right?
The whole crypto world and stock markets get manipulated every day by people and funds who have a lot more money than us. IMO they want our BTC for cheap and by the looks of things they are getting it. Who’s selling right now? I’ll never sell it unless it’s worth so much I can retire.
ive been buying new clips as I can here.
I think the problem with retail is the *massive* amounts of global uncertainty. and despite tons of improvements and innovations this cycle you still can’t eat blockspace.