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Checkmate says that the $60k incident was a genuine surrender, with an 80% probability of bottoming out, but the consolidation period will be very long, and patience is more important than faith.
Source: "What Bitcoin Did"
Felix, PANews
Glassnode's former chief analyst Checkmate appeared on the "What Bitcoin Did" podcast, where he explained why the $60,000 surge looks like a genuine capitulation event and indicated that the current bottom formation has an 80% probability, suggesting we're in a bull market, but with a long consolidation period. He also discussed rising bond yields, collapsing fiscal systems, the end of trust in government debt, ETF capital flows, and more. Finally, he explored Australia's proposed capital gains tax reform. PANews has summarized the highlights of the podcast.
Host: Are we currently in a bull market or a bear market? Because, in my view, the worst day of a bear market is often a bull.