Zooming in, rather than out
While long-term risks have instilled sell-side pressure, medium-term factors point toward strength, not weakness, and with BTC currently at deep value, the case for material upside is far more plausible than an 80% drawdown repeat.
Preview
A calm recovery, slammed by the yenOver the past week, BTC’s previously one-sided selling pressure eased, giving way to a period of calm consolidation. After briefly breaking above $90k, BTC traded tightly between $90–92k until Monday, when reports of a possible Japanese rate hike triggered a sharp global de-risking. This move erased the week’s gains and left BTC flat relative to last Tuesday.Market activity remains subdued, with ETF flows neutral, leverage in perpetuals normalized, and CME open interest at a 21-month low. Low participation and quick reactions to negative news highlight a fearful backdrop. With BTC now highly sensitive to macro developments, upcoming U.S. em
