What’s happening with Bitcoin right now is not normal… The closest comparison is the FTX collapse days in 2022.

Today, $BTC is about –24% below its 200-day moving average… the deepest distance it has reached in almost two years.

The important question: Is this a collapse that reflects “fundamentals”?
The simple answer: No.

The current movement is driven by 3 clear factors:

1️⃣ Violent leverage liquidations hitting the market for the past 3 weeks.
2️⃣ Global liquidity pressures due to repricing of the interest rate decision in December.
3️⃣ Psychological panic repeating the same pattern we saw in 2021 and 2022… roughly the same distance below the 200-day, and the same market reaction.

History doesn’t repeat itself… but often follows the same rhythm.
And these levels have historically been an opportunity for those who understand, not the end of the road... #TopGainersInADownMarket #BitcoinPriceWatch: $GT