Odaily News Jacob King, founder of WhaleWire, wrote on the X platform that the Bitcoin bear market has arrived. The failed launch of the Bitcoin Strategic Reserve clearly shows that there is no intention to purchase any assets other than the seized Bitcoin. At the same time, the narrative of institutional demand has collapsed, as evidenced by the record outflow of funds from ETFs. All narratives have been shattered - not one left.
Bitcoin maximalists have run out of tricks to attract new retail money into the bubble.
Bitcoin is heading for a multi-year bear market, with declines to lows that were previously thought to be impossible. If you have an investment, I strongly recommend selling out now, or waiting until it plummets by more than 85% before buying back in if you wish.