When we tagged 57k the short Liqs were at 63k and we stopped right here. Might go 65k to take out new shorts.
Just like post 69k in 2021, the crowd will be bullish for ageeeeeees and be ‘up only’ all the way down until they have every cent taken from them.
The evil overlord nature in me says we take it to 25k and ETH ETF is denied in 2024 wiping out the entire space. We then go up only 2025.
Any price for BTC is possible as things like recession and stagflation are still on the table, but so are soft or no landing albeit looking less likely.
ETH ETF denial is mostly priced in so won't do much damage.
Looks like someone is trying to paint the BTC chart and manipulate sentiment. On the day CZ gets his sentence BTC dumps hard on no news and there is a huge net ETF outflow including iBit for the first time. Support lines are broken.
Now we get the opposite. Price pumping for no reason and GBTC has it's first net inflow day. This could be a pump that keeps going especially if SPX plays nice for the rest of May.