The hardest thing to grapple with over the past 6-8 weeks has been my simultaneous view that I'm:

• Bearish on Bitcoin

• Bullish on equities

I kept telling people, "I'll probably be wrong on one of these".

Funny enough, I haven't been wrong yet.

BTC is lower & stocks are higher.

But if the strength in equities continues, particularly if risk appetite increases as well, then we have to conclude that Bitcoin (and crypto as a whole) is going to participate in that upside.

Maybe we're seeing early signs of that now...

I don't know.

All I know is that if the upside does occur, then BTC will break (and stay) above its key EMAs... and we aren't there yet, though we're getting closer.

If I have to flip bullish again on BTC, based on objective data rather than a dogmatic "up only" narrative, then I gladly will.

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