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Opinion: The failed launch of Bitcoin's strategic reserve and ETF outflows are both signs of a bear market
BlockBeats News: On March 9, WhaleWire founder Jacob King posted on social media that a bear market for Bitcoin has arrived. The failed launch of the Bitcoin Strategic Reserve makes it clear that there was never any intention to buy any other assets other than the confiscated Bitcoins. At the same time, the narrative of institutional demand has collapsed, as evidenced by record ETF outflows. All narratives have been shattered – every single one has been shattered. Bitcoin extremists create illusions to lure new retail funds into the bubble, but they've run out of tricks. Bitcoin is heading for a multi-year bear market, falling to lows that were once thought impossible. If you have already invested, I highly recommend that you sell all of your assets now and buy them back after a drop of more than 85% if you wish.
and it soon potentially will be forming bullish
W chart pattern, with higher lows.
And it makes a good entry point for LONG or
BUY.