Ah, comrades of the digital gulag, behold Bitcoin‘s October stumble-a mere “liquidity-driven mid-cycle reset,” as the sage analysts Nathan Frankovitz and Matthew Sigel from VanEck proclaimed in their Wednesday oracle, their words dripping with the audacity of Wall Street mystics. How quaint that a crash could be shrugged off like a peasant’s hangover after a feast of free markets! 💸
“Leverage has normalized, on-chain activity is rising, and digital assets’ macro role continues to strengthen,” they quipped, as if chanting spells over the abyss of fiat decay.
Trading down 14% from its lofty all-time high, Bitcoin limps along, having botched its recovery from that infamous leverage purge earlier this moonlit month. Sarcasm aside, perhaps it’s just digesting the excesses of speculative gluttony, dear reader- after all, who among us hasn’t overindulged in the banquet of bubble dreams? 📈😂
With leverage now lounging at the 61st percentile and prices flirting with one-year nadirs against the gilded idol of gold, this ain’t the bear market harbinger, say the analysts, but a mid-cycle correction, mocking those doom prophets with the grin of inevitability. Oh, the irony of optimism in a world of engineered scarcity!
No Bear Market Rag, Yet
Global M2 growth, that relentless tide of paper money printing, accounts for over half of Bitcoin’s whimsical price variances, cementing its status as the anti-money-printing renegade. According to MacroMicro’s watchful eye, global M2 has swelled by 6.8% since the year’s dawn, as central bankers play god with ink and presses. The report unveils three sorcerers of influence: global liquidity, leverage, and on-chain activity, weaving spells over Bitcoin’s fate. Ah, the poetry of capitalism’s self-deception! 💰👻
Nearly 73% of price swings since October 2020 trace back to futures open interest’s manic dance, while blockchain revenues and token prices flirt in symbiotic harmony, proving adoption in an era when real value hides from the spotlight. Laughable, yet laudable, this digital courtship.
VanEck’s investment mandarins refuse to wager against Bitcoin, with fiat debasement accelerating like a runaway troika. Who bets against the underdog when emperors parade in paper crowns?
“With Bitcoin comprising ~2% of global money supply, we believe digital assets can play an increasingly important role in investment portfolios; arguably, owning less than ~2% Bitcoin or other digital assets is implicitly expressing a short position on the asset class.”
Caution: Volatility’s Wild Orchestra
This chorus resonates among sages who’ve vowed the bull market dances on, defying gravity’s pull. Yet, volatility looms like a shadow-play puppet master, warns investor Ted Pillows, with hints of upcoming dramas. Expect turbulence, comrades-markets fumble until the grand macroeconomic spectacle unfurls: CPI! 🎭
US Treasury Secretary Scott Bessent prophesies lower inflation’s dawn next month, implying this week’s CPI might shatter expectations (or hearts). “High inflation pressure-tests crypto,” he notes, “raising specters of tight policy. But if CPI underwhelms, crypto could bounce like a forgotten balloon at a bourgeoisie bash.”
MN Fund’s Michaël van de Poppe echoes, “markets continue to fumble until the next big macroeconomic event comes in: CPI.”
That delayed September CPI, lurking like a plot twist, drops Friday-poised to dictate Bitcoin’s path and the Fed’s sterner gaze. Will it ascend or descend into the abyss? Only time, and a dash of Sarcastan luck, will tell. 😏
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2025-10-23 11:29