.@novogratz is right - the math isn't mathing. When gold hits all-time highs and Bitcoin stalls despite the same macro tailwinds + a very friendly crypto administration - you have to look at the paper markets. We’ve seen this movie before with Silver - heavy shorting via futures can suppress price action even when physical demand is through the roof. I believe we are seeing the same bank playbook being run on BTC. I also believe we are watching the Financialization of Bitcoin and Crypto in real-time. The same players who spent years suppressing Silver prices with paper contracts are now using the same tools on BTC and other crypto assets. It's not a failure of the tech - it's a coordinated effort by the old guard to keep the Digital Gold narrative in a cage. We see the old guard - @jpmorgan and Jamie Dimon - publicly attacking the new guard - @coinbase and @brian_armstrong. The banks are following their political playbook in Washington to slow down or kill crypto legislation while at the same time following their manipulation playbook on the asset itself. Look how hard they’re fighting to maintain the status quo.(John E Deaton)