Holders who have accumulated bitcoin over the past six months aren’t liquidating their positions despite unrealized losses, suggesting conviction in the asset.
The U.S. dollar has risen to 20-year highs while the Japanese yen and the euro are acting like emerging market currencies. Are these crisis warning signs?
Bitcoin has no lender of last resort for those who take undue risks. Bitcoin’s recent leverage cleansing is par for the course for a truly scarce asset.
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