🤔 Feels to me like a few obvious things are happening all at once within Bitcoin & shitcoins.
1) Big political names like the Trump family getting involved brings global heat & scrutiny to target & hurt the businesses around them. 2) the drawdown shrinks profits & weakens a big Republican donor base. 3) the usual leverage is getting completely flushed out like every cycle. 4) the prices are being reset low enough for banks & hedge funds to finally step in big & load up cheap before the next breakout run up.
So, the little guys get shaken out, the donors get squeezed, & Wall Street quietly reloads at a discount… same fkn game, different cycle.
