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What next for $BTC?
Spot $BTC ETF rejected again
Welcome to the eighth Alpha newsletter. We curate alpha for you. That’s it; that’s the newsletter.
Yet again we find ourselves in the position of having to digest the news of a spot $BTC ETF being rejected by the SEC.
Should we be surprised? No. Should we be annoyed? It’s all a matter of perspective, I suppose.
It’s been a choppy week for $BTC and there are a lot of opinions about where it goes both in the short term and long term.
Rookie is summoning the magnet.
JT sees a possible fourth corrective wave with a fifth impulse taking $BTC to around $73k. JT was very accurate calling the May low.
Short term pain for long term gain?
This is a short term bullish sign, even though the colour red usually means bad.
Once a $1T asset always a $1T asset?
Looking slightly longer term, this fractal TechDev has been following continues to look good.
And his data suggests we shouldn’t be too worried.
A lesson in recency bias.
Shall we all inhale some weekend hopium?
And there is the rather significant $BTC upgrade happening this weekend aka Taproot, so maybe Loma has a point.
A conspiracy theory for your consideration.
And that’s your alpha.