Interesting observation from Fundstrat analysts: as long as Bitcoin stays above $77K, there are serious concerns about whether it can hold these levels. Sean Farrell, a digital assets strategist, expressed a rather skeptical view of the current rally in a recent interview.

His main thesis is the lack of real fundamental support for growth. According to him, the recent price increase is largely artificial, fueled by technical factors and capital flows ahead of payouts for some financial instruments. When support runs out, Bitcoin may need to re-convert positions downward, potentially to the $60,000 level or even lower.

His remark that the geopolitical premium in the market is already beginning to decline, and macroeconomic indicators like VIX are approaching the bottom, is especially interesting. This could mean that the coming weeks will be critical in determining whether the price can stay above current levels or start to retreat. It seems the market has not yet finished testing the lower bounds of the range in which Bitcoin has been fluctuating for several months.