That’s kind of what today feels like to me. A few weeks ago this sort of backdrop felt like the kind of thing that should have made crypto look much weaker, but now the tape feels different. Not calm exactly, just more used to living with uncertainty.
Oil is still elevated, the dollar is still firm, and gold itself isn’t even getting the clean safe-haven follow-through people expect. That’s what makes BTC interesting here. I’m not saying it suddenly became defensive, I’m saying it no longer looks like the obvious weak link every time macro stress rises. That’s a very different kind of resilience.
So to me this doesn’t look like full confidence, but it also doesn’t look like abandonment. It looks more like a market people don’t fully trust, but also don’t want to leave. Anyone else reading BTC like that now, not bullish, not broken, just sitting in that weird middle zone?
Anyone else feel like BTC is not really being trusted, but it’s also no longer the first thing the market wants to throw away?
byu/Zestyclose_Mail_4569 inCryptoMarkets
Posted by Zestyclose_Mail_4569
2 Comments
I think people worldwide especially governments are buying us dollars to trade for oil and energy as the Petro dollar turns to the Petro/LNG dollar and China specifically is liquidating it Bitcoin holdings to do so because Venezuela and Iran are not in the picture for them. The fact that Bitcoin and the larger crypto markets are largely holding is a testament to their robustness and fortitude.
Short term mindset never wins in crypto. There are still too many few players that control crypto liquidity. It’s gonna be another decade before it’s trading 1:1 with markets