Look guys, it's actually really straightforward, a bunch of people staked their ETH on the Ethereum blockchain to earn yield, except they didn't want their capital to be locked up, so they actually staked with a liquid staking protocol called Lido who provided them a liquid staking receipt token called stETH, except they decided to juice their yield further by depositing their stETH receipt tokens into a restaking protocol called Eigenlayer, except they didn't want to lock up their capital, so they actually restaked with a liquid restaking protocol called KelpDAO who provided them with a liquid restaking receipt token called rsETH, except they decided to juice their yield further by depositing their rsETH tokens into a lending protocol called Aave so that they could open a leveraged looping position that borrows ETH against the rsETH collateral and restakes the ETH into rsETH which is then deposited as collateral, except it turns out rsETH used a cross-chain bridge called LayerZero that was hacked by north koreans causing rsETH to become undercollateralized and now these looping positions are stuck and unprofitable, and everyone is pointing fingers at each other, and also DeFi is a very serious industry
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Look at this fucking chart.
I'm posting it again cos its probably the best chart right now.
Look at it.
TOTAL3 has bottomed against BTC.
And it has taken ALMOST THE EXACT SAME AMOUNT OF TIME.
2017 - 2020: 1,092 days
2022 - 2025: 1,085 days
HTF break of trend
LTF break of trend
Reverse head and and shoulders
After 3 years of being weak against BTC.
This is happening whilst BTC.D is just below 60% and in a HTF bearish structure.
@CredibleCrypto@lourenco_vs@ChifoiCristian@TechDev_52
@bitcoindata21
@DonnyDicey
My bull brothers in christ... have a look at it.
We aint fucking leaving!
We are all being psyop'd.
I have spent hours today looking at all the charts that matter...
Studying the macro and past precedented...
And I cannot reconcile that the market has topped here.
I'm trying to be as objective as possible, but I just don't see it.
Beyond Bitcoin being very close to breaking a few MA's and some Weekly bearish divs...
I'm just not seeing it.
We have BTC.D looking extremely bearish after a clean break of the 2.5 year uptrend and 1W 50SMA, and now putting in a very clean retest of that break.
That is not how a cycle ends.
We have TOTAL3 cup and handling in a cup and handle, within a 4.5 year range. Holding 1W 50 SMA.
We have ETH/BTC consolidating after reversing off the bottom after a 3 year downtrend.
We have OTHERS.D bottoming out after 3.5 years of non stop down.
None of this is how a cycle ends... it is totally indicative of how a cycle shapes up as its nearing its end before the largest overall expansion.
Bitcoin is the king, and if it decides to go down, it will drag the market with it...
But if that happens dominance will just climb more, which inevitably leads to an ever greater eventual fall.
Then we have the macro, with QT ending and the FED growing their balance sheet again early next year.
Everything the data is telling me is that we have the final leg of this market left to go in which BTC makes new highs, dominance continues to fall, ETH/BTC continues to pump, TOTAL3 breaks into price discovery and OTHERS.D reverses.
Yes, BTC might push a bit lower, but I see nothing on a very broad scale, not just looking at one chart and one indicator....
That convinces me we have topped and are entering a bear market.
Happy to hear opposing thoughts to this post, but i just cant see it.
We're going higher.
And soon.