Midcurver

A lot of macro bear posts calling for $30k BTC or lower have been getting attention recently. Meanwhile, there are entities like this one on bitfinex that has quietly scooped up almost 7,000 BTC this week with no signs of slowing. There's a fundamental issue with the macro / longterm bearish predictions being posted, which is that major market movements are often entirely at the whim of a few large players who can't be predicted. And right now, with the record breaking launch of Bitcoin spot ETFs, the odds that we see large new entities suddenly enter the market has changed entirely. For more conservative funds, governments, etc, the ETFs improve the accessibility, visibility and legitimacy of Bitcoin, which in many cases may be what’s needed for some of these entities to add Bitcoin to their balance sheet for the first time. So when you see posts calling for crazy bear targets many months out, you should be aware that these posts really have no idea or ability to confidently predict who might enter the market over such a long timeframe. The guarantee we do have though is that Bitcoin’s supply is finite, and over a long timeframe is progressively being accumulated. Just buy spot and ignore the noise.