The market is pricing in too much hawkishness, which is great as it allows Bitcoin to form a stronger base as there’s a massive supply gap at 70k. The Bitcoin sell-off had been in 1:1 correlation with software stocks, peak quantum fear (fully warranted), and cross-asset margin selling. Retail leverage is fully wiped out, capitulation levels akin to bear market bottoms and the market didn’t allow a 200WMA bid for now. While, MSTR has just proved they can buy in a massive correction, while mNAV expands during it.(James Van Straten)