I am hoping it has atleast another leg up before the tides turn, but profit-taking from long-term holders over this cycle suggests we are in the late stages of the latest Bitcoin bull.

Looks like it is all systems go for Bitcoin.

A few weeks ago, I anticipated it would test its all-time high. It looks like it is close to nailing its ATH close (though still below the $109k odd reached intra-day on the day president Drumpf was inaugarated.

Price action, momentum, relative strength are all bullish, as is seasonality. Buckle up I guess?

What a difference a few weeks can make.

After threatening to break out earlier in the year, Bitcoin has now quite decisively broken down below its post-election breakout range (around $90k at the lower end).

That opens up the pre-election highs (around $74k).

Highly volatile asset of course, so breakouts and breakdowns can quickly be invalidated in just a day’s price action, but skews bearish from a technical perspective.

The Trump-dump after the Trump-bump. Just like the man himself :)

Institutions vs. Bitcoin. "Pension funds make up only 1% of the reported holdings in the nine new ETFs. We expect that number to increase in 2025, following expected regulatory changes from the Trump administration that will make it easier for traditional finance (TradFi) to participate in digital assets."

Standard Chartered via Zero Hedge

Microsoft is under some pressure to consider adding Bitcoin to its balance sheet, though its Board is presently against it.

https://fortune.com/crypto/2024/10/25/microsoft-tells-shareholders-to-reject-call-to-invest-corporate-cash-in-bitcoin/

Will be big if (when?) it happens...

https://www.moneyandbanking.com/commentary/2024/9/15/a-national-strategy-for-bitcoin-sell-it-all-now