$BTC reached 87k
This move was a short squeeze. Most of the shorts got liquidated on the way up and there's not much fuel left to keep it going.
Funding's neutral so it's not overheated. 90k next is possible, just unlikely imo. More likely it comes back down to grab the long liquidations.
• ~84k could be a quick wick
• ~80k is the main short term magnet
• and if 80k breaks, 75k is next.
Zoom out and there's a much bigger cluster sitting at 60-62k. That's the real worst case if 75k doesn't hold. Not my base case, but it's on the map.
So i'm buying just below 80k and 75k, keeping cash in case both fill.
Weekly close under 72k and i reassess.
What flips me bullish:
ETF inflows picking up and price holding above 85-86k with funding staying neutral. That's real spot buying, not leverage. If that happens, ~100k could be the next magnet.
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going back to DYORing @ResolvLabs now that the $RESOLV launch hype has calmed and the noise is more manageable
Around a month or so ago, the team announced on X (twitter? Xitter? CT?) that they were activating the famous fee switch
Daily protocol fees are being redirected to the Foundation's treasury
They started from 2.5% and slowly began moving up in steps
They started from 2.5% and slowly began moving up in steps
Why? 🤔
Flywheel and alignment are key to long-term protocol health
With the fee switch activated, more value can reach back the $RESOLV holders, adding to more strategic integrations and pushing adoption higher
This in turn will bring in more capital, more users, and more fees, earning more to the DAO and continuing the cycle
Resolv is prepping up to scale with this move: now that it's walking on its own leg and traction is real, the fees can be sustainable and move us all to the next steps
Now it's time for buybacks moving forwards
Expect bumpy and bullish price action 😉