The Bitcoin maxi propaganda playbook is no longer effective at luring in new investors to prop up the bubble. Just in the past week alone, the usual narratives were rolled out in full force. CZ claimed we are in some fairytale “super-cycle” and urged everyone to buy in, while Michael Saylor deployed another $2 billion (of shareholders funds) into BTC with virtually no impact on price. At the same time, maxi media pushed increasingly absurd stories, from imminent alien disclosure to Bitcoin being the only hedge against reality itself. Meanwhile, the so-called “digital gold” thesis is falling apart in real time, as gold rips to new all-time highs while Bitcoin sells off. On-chain data also shows coins continuing to move from cold storage to exchanges, a pattern that historically precedes selling, not accumulation. ETFs and big firms are jumping ship. Tether even tried printing billions to prop up the markets, but the sell pressure was so extreme, it wiped out their orders in under 30 minutes. Investors are waking up and realizing these old tactics no longer work. Bitcoin has no utility or real demand, it has already slipped into the $90K range, and the downside from here is far larger than most are prepared to admit.(Jacob King)