Bitcoin closed February at $66,985 .. below 2021 ATH
Approaching 200 week moving average ($58k black line) and realized price ($54k grey line). RSI<45 (blue).
It is truly extraordinary to see the new Dutch tax on unrealized capital gains. It is as though the responsible politicians exist in a parallel universe fully decoupled from an understanding of human nature, economics, and reality.
Bitcoin ($87,500) is currently (pink dot) way off its historic correlation with stocks ($6900) and gold ($4500). This happened before, when BTC was below $1k, and resulted in a 10x pump. But correlation could also be broken, and then this time will be different. Time will tell..
JUST IN: Bitcoin is set to break the 4-year cycle and hit a new all-time high in 2026, says Bitwise CIO Matt Hougan
He cites:
• Weakening halving effects
• Falling interest rates
• Accelerating institutional adoption