Once again, in the charred remains of yesterdayâs certainties, the digital Rubicon is crossed. Bitcoinâa child born of distrust, raised amidst the icy skepticism of financial commissarsâhas crashed through its May shroud, while bearish âindicatorsâ (those mathematical shamans) wave their little red flags as they sink into irrelevance, crushed beneath the avalanche of ETF flows and the surreal spectacle of corporations hoarding coins like potatoes before a long winter. The lonesome traders who prophesied doom now find themselves the involuntary engine room of this great upward trainâshoveling their own margin calls into the furnace. Oh, comradesâhow we suffer for our convictions! đđ¸
On the 9th day of Julyâmark the date, scribesâBitcoin (BTC) lurched forward, a 2% upward spasm, toppling its own record from May like a toppled Lenin bust ($111,970âwho counts money in such an age?). Skepticism gnashed its teeth. Short interest, bulging to $35 billion, stood muster on the eve, while technical signals blinked their warnings as if this cosmic jest still operated on rational principles. Bears, so sure they would waltz at the funeral pyre, instead found themselves dancing the forced kazachok of the squeezed.
What is this high? Can it be called âall-timeâ? (The gulag taught us: all times are relative, comrades.) Still, capitalâthe great, oozing, faceless institutional sortâhas commandeered the cryptosphere. No longer are we ruled by the twitchy-fingered retail masses, but by financiers stacking coins on spreadsheets as laborers once counted bread. Meanwhile, outside, the macroeconomic wind howls. Labor data preaches âhawkishnessâ and the mice who dream of rate cuts squeak in vainâBitcoin looks on, unbothered, inscrutable, one gold tooth glinting in the candlelight.
Institutions March In, Bears Flee the Barricades
This is no standard-issue crypto rally. The old storiesâhalving, Reddit, FOMOâare relics, stuffed inside dusty suitcases atop the prison wardrobe. ETFs and corporations, those boogeymen of market purity, have poured in. Price action? Counterintuitive, you say. But is it not the nature of the times to be counterintuitive? Thirty-five billion dollars in short interest, amassed like a pile of forbidden literature, is now kindling. ETFs, merciless, have absorbed 245,000 BTC in one quarterânearly 1% of the worldâs supply! Public companies, with the same voraciousness as apparatchiks requisitioning wheat, add billions to their balance sheets. Standard Chartered dares to call this âa new flow regime.â We used to call it âsomeone elseâs problem.â Now, miners cannot supply the needs, outpaced threefold. Even the pickax canât keep up with Wall Street.
Outside our window, the American machine keeps humming. Nonfarm payrolls report: 147,000 more citizens added to the workerâs parade, and unemployment snipped to 4.1%. Expectations for the great rate cutâonce a sure betâare now at 5%, down from 24%. Tighter belts usually strangle risk assets, but Bitcoin? It floats. Itâs not a âhigh-betaâ asset; itâs a magnet dragged through a scrapyard of liquidity. The wise men in three-piece suits put faith in the S&P 500 and Nasdaq, rising alongside, while the Dow adds 164 pointsâa rounding error, perhaps, but in such days even crumbs are victories.
International Theater of the Absurd: Geopolitics Edition
America, not content with its own dramas, throws tariffs like Molotov cocktails. July 9: Six nations get whackedâAlgeria, Iraq (30%), Brunei, Libya, Moldova (25%), the Philippines (20%). Meanwhile, Japan and South Korea clutch their hats, flinching at threats. History says: tariffs mean inflation, chaos, asset firesales. Yet Bitcoin sits, sphinx-like, ignoring it all. Perhaps itâs the vodka talking. Traders still sip their Kalashnikov cocktails, waiting for the ceiling to fallâand maybe they should.
James Butterfill, in a past life perhaps a railway clerk, now opines: tariffs might slow growth, spook even fearless Bitcoin. Nansenâs Nicolai Sondergaard, meanwhile, would have advised the Politburo: donât be fooled by hysteria. Tariffs will scare the horses, butâwe all expect a last-day reprieve. The curtainâs true rise? August 1. If the tariffs stick, the Bitcoin calm breaks. Until then, comrades, itâs a waiting gameâlike poker night in a Siberian winter. Pass the salt, watch the charts, and never trust a bear. đťâď¸
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2025-07-09 23:20