why
Discussion
BC God wants us to develop character
First sign was the peak coincided exactly where it should have based on timeframe from halving. We are still in a downtrend and havenβt been able to break out of the channel. MACD turned bearish on monthly candle which has signalled the start of all previous bear cycles. Bullish news has been met with bearish price action for example rate cuts. Treasury companies are getting rekt which one would expect in a bear market. While price was maker higher highs RSI was making lower highs showing a loss in momentum; this happened in all previous bear markets. Then you have whales selling, Core Knots drama, Samourai in prison, quantum FUD; these are not bearish on their own but do add fuel a bearish market price structure. None of this is fatal but I think we are in for a lot more pain before we can make a new base to go higher. Unless something huge can turn momentum around but seems unlikely.