McGlone's Bitcoin Reality Check: Why We're Seeing a Harsh Market Reversal

I've been watching the Bitcoin crash with a mixture of fascination and dread. Mike McGlone from Bloomberg finally put into words what I'd been feeling - this isn't just Bitcoin taking a hit, it's a "normal reversion" across risk assets, with crypto getting the worst beating thanks to its wild volatility.

I'm looking at my portfolio right now and can't help but wince at the 14% drop from that glorious $108,300 peak to the current $93,260. Damn, that hurts.

The warning signs are everywhere. Robert Kiyosaki's ominous post about a global economic crash has me legitimately worried. Sure, he says gold, silver, and Bitcoin will "hold their value," but that's cold comfort watching thousands evaporate from my account in real-time.

Even more disturbing is The Kobeissi Letter's prediction of another $20,000 drop in the coming weeks. Their analysis linking Bitcoin to global monetary supply makes uncomfortable sense - we hit $108K when global money hit $108.5 trillion. Now money supply is contracting, and so is Bitcoin's price.

Rekt Capital's technical analysis confirms my fears - the "Bearish Engulfing Candlestick formation" and broken weekly support suggest we're in for a multi-week correction. The 5-week uptrend is dead.

At least the big institutional players like Matador and MicroStrategy are still buying. But honestly, what choice do they have? They're too deep in this game to back out now. Unlike me, who's wondering if I should cut my losses or ride this rollercoaster down further.

This reversal feels different. The market seemed so confident just weeks ago. Now everyone's scrambling for explanations while watching their profits vanish. Maybe crashes really are the best times to get rich as Kiyosaki claims, but right now it just feels like watching money burn.