A Weariness of Numbers
They say Bitcoin might fall. As if things weren’t melancholy enough already. Nevertheless, people continue to buy it, these ETFs⌠a curious habit, like collecting porcelain dolls during a cholera outbreak.
Bitcoin [BTC], you see, briefly touched a rather dizzying height-$124,474, they claim-on the fourteenth of August. Such fleeting triumphs. Then, as inevitably as a summer rain, it retreated, rather gracelessly, to the $115,000 region within a mere four days. The investors, naturally, are perturbed. One can almost hear their sighs.
The charts, those silent judges, suggest a sort ofâŚholding pattern. A support level, they call it. One can only hope it provides some solace. But the analysts, bless their pessimistic hearts, whisper of darker times ahead. Always darker times.
The Analysts’ Gloom
Apparently, the American economy-a vast and incomprehensible machine-is casting a shadow over Bitcoinâs prospects. Something about macroeconomic conditions⌠and spreads. Honestly, the terminology itself is enough to induce a profound ennui. Itâs all terribly complicated, and in the end, what does it matter?
This âICE BofA Option-Adjusted Spreadsâ – a name that sounds like a particularly unpleasant medical condition – apparently predicts things. When it spikes, Bitcoin goes up. When it doesn’t⌠well, you can guess. Currently, it’s rather subdued, suggesting a gradual, unremarkable decline. Just as one would expect.
A Mr. Joao Wedson, a crypto analyst – another soul burdened by the weight of prediction – notes that this bearishness has been brewing since 2022. He speaks of “euphoria” preceding a “bear market.” Such drama! As if Bitcoin were a tragic heroine in a poorly written novel.
âI believe much of 2026 and beyond will be very bad for the U.S. economy.â
A rather bleak assessment, wouldnât you agree? One almost feels compelled to light a candle and murmur a prayer. Or perhaps simply have another cup of tea. â
A Fleeting Outperformance
Despite all this impending doom, Bitcoin, for a brief, shining moment, managed to outperform the S&P 500. A 101% gain versus 17.2%. A small victory, perhaps, but a victory nonetheless. Though one suspects the S&P 500 isnât losing much sleep over it. It has seen worse.
Naturally, this fleeting success attracted more investors. People are so easily drawn to shiny objects. And empty promises.
The Accumulation, a Quiet Obsession
The Americans, it seems, are still buying-these spot ETFs. A total of $152.18 billion, equivalent to 589,260 BTC. A truly staggering sum. Though, curiously, August saw more money leaving than entering. A flicker of doubt, perhaps? A momentary realization of the absurdity of it all?
Corporations, too, are accumulating Bitcoin, now holding 4.8% of the total supply. And MetaPlanet, in a fit of exuberance, recently purchased $93 million worth. One wonders if they know what they are doing. đ¤
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2025-08-18 15:08