I've Been tracking Bitcoin since 2017, and it just retested my mental benchmark at $48,129, similar to the March 2022 retest. I'm watching for the next one, possibly around 30K. If it breaks the 40K (40,181) neckline, be prepared for more drops and continuation.
CNBC predicts Bitcoin hitting 100K
BTCUSD
post-ETF approval. However, history shows a pattern where media and crypto enthusiasts preach the 100K Bitcoin breach before it goes in the opposite direction. I believe when ETFs approve and settle, it'll pressure crypto exchanges, moving BTC off them. This makes Bitcoin a "Self Custody" asset for the NYSE, as they must OWN BTC to list it as an asset. Imagine Bitcoin shifting from crypto exchanges to NYSE, adding pressure and likely pushing the price lower due to reduced BTC supply. Bottom line: Bitcoin won't become a Bankers Token. The argument may arise that "Bitcoin was never a Bankers Coin," which is true, it was to be Self Custody, it was the FINGER to the MAN and exit strategy away from the petrodollar . Still, people need to recognize the end of the "wild-wild west" days for CRYPTO are OVER as regulations and regulators entered the space, making things more regulated equaling to more complications now ,and in the FUTURE, to come .
