As the crypto market keeps tanking and Bitcoin slips into the 80k area, I guess I’m personally entering that disbelief phase of the cycle.
Don’t get me wrong, I’m not in disbelief about the price itself. I’m a TA (technical analysis) enjoyorr, after all, and I’ve been anticipating any possible drawdown ever since BTC first dipped below its MA50.
And recently, through volume distribution analysis. Join my membership group to read the post. (link below)
But rather, my disbelief is about the circumstances surrounding the whole drawdown, how the crypto assets are behaving and the wonderment of what this nuke actually means for Bitcoin and other cryptocurrencies.
Let’s unpack a few things.
2025 is a strange year for Bitcoin
2025 is the year that somehow manages to be both a bull market and a bear market for Bitcoin.
BTC has crossed its all-time high multiple times this year. But at the same time, 2025 is also the year when Bitcoin nuked 40% in a single month.
With the current pace of this drawdown, it’s entirely possible that Bitcoin could end 2025 in the red despite the bull market and all the new all-time highs. So far, BTC’s YTD performance is -10%.
-10%!!! Can you believe it? It feels like just a couple of weeks ago we were trading around…
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