INSIGHT: Bitcoin has never remained below the Rainbow Chart’s “Fire Sale” zone for a period like this.
Historically, these levels have marked some of $BTC’s strongest accumulation periods.
Either the model is breaking or $BTC is historically cheap. 👀
“So you lost everything during FTX?”
“Yes.”
“Then you bought a hardware wallet because exchanges can’t be trusted.”
“That is correct.”
“Then your bitcoin wallet got hacked because the entropy was too weak.”
“Yup.”
“Then you switched companies and they also got hacked and lost your data?”
“Yes, Dave.”
“But you’re still buying bitcoin?”
“Yeah.”
Market bottoms are often accompanied by panic and disagreement. On-chain cost indicators can be used as a reference, but cannot be used to determine the bottom alone. Currently, BTC still needs to pay attention to key support levels and changes in fund flows.
I’m legitimately fearful I won’t be able to deploy capital at the bottom in a couple months.
Everyone is expecting us to go lower. It would be too convenient. Bitcoin doesn’t wait for you.
BREAKING: 🇺🇸 Trump Media just disclosed holding 14,139 Bitcoin worth $900 million.
They added 4,662 $BTC worth $293M in July.
While everyone is panicking, President Trump is loading up for the next crypto bull run.