From the start of 2024 until early March, Bitcoin (and all crypto) went straight up, which was massively encouraging to the crypto weirdos, who collectively still pretend BTC is anything but a gambling token. Since then, things haven’t been so great, and although these yo-yo’s will argue how much money you would have made if you bought BTC in, I dunno, 2016, the fact is that in recent days and weeks it is bleeding out.
For the past four months, BTC has been grinding around in a range of about $14,000: roughly $60,000 on the support line and $74,000 on resistance. We are getting close, once again, to support failure.
The animal spirits are tethered to all assets across the board. If BTC breaks support, pay attention, because it means equities are heading the same way.
