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Given the state of the market, XRP might just have to endure more pain before it can even think about recovering.

A recent AMBCrypto dispatch laid out why a short squeeze still glares like an outlaw on the horizon, even as geopolitics rattle the market’s campfire.

Pray, consider the plight of the Persians! Crypto, that modern-day elixir, hath become their financial crutch-for both the humble householder and the state’s shadowy networks. Years of sanctions, imposed by the grand puppeteers of the West, have left their economy in tatters, their banks exiled from SWIFT, and their rial in freefall. Inflation, that voracious beast, doth feast upon their coffers, driving many to seek refuge in Bitcoin and stablecoins-a hedge against folly and a rail for cross-border flight.

The Altcoin Season Index (ASI) is about as exciting as a root canal, barely budging despite the fear, doubt, and uncertainty swirling around like a cheap cologne. Yet, here comes AAVE, strutting into the room like it owns the place, with a 7.5% gain on March 2nd. It’s now flirting with the $120-$130 range, a zone it’s been eyeing since early February like a teenager staring at a prom date across the room.

At the start of the year, central banks dialed down their gold buying spree, according to the World Gold Council’s report from March 3. Yes, you guessed it-rising geopolitical tensions are making their job a bit trickier. But it’s not like they’ve given up on gold altogether. Not yet.

Apparently, this is just the latest in a series of political memecoins that have left retail investors feeling like they’ve been catfished by the entire internet. Classic.

The cbBTC, a relic of immense value, now boasts a circulation of $5 billion, a sum that would make even the most avaricious of tsars weep with envy. Monad’s DeFi ventures, ever hungry for sustenance, now find themselves nourished by this newfound liquidity, a blessing as rare as a well-timed tax break.

In his latest Substack (because who doesn’t love a good read over coffee?), Burnett suggests that Bitcoin will transform from a speculative gamble into the go-to choice for hoarding cash in an economy where everything else is going down, down, down like a sad elevator. By 2036, he anticipates Bitcoin’s network value will hit around $230 trillion, which is more money than I can even count in my wildest dreams. He thinks we’re looking at a global asset base ballooning from a measly $1 quadrillion to a staggering $1.97 quadrillion. Talk about inflation; I can feel my pocket change evaporating already!

MARA, the biggest public Bitcoin miner by BTC held, broadened its treasury playbook. After filing its 10-K with the SEC, the company announced it may sell the Bitcoin it has already gathered. Before this, it could only sell the newly mined gems and keep the rest as a stubborn reserve.

This grotesque ballet of financial desperation mirrors a broader trend in the Bitcoin mining industry, where the once-revered digital gold now gathers dust in the corners of forgotten wallets. Yet, it also invites a grim contemplation: what is the purpose of hoarding Bitcoin treasuries when the market itself seems to weep with despair?