TL; DR
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BTC just hit $57,000, which means we are only 25% away from all-time highs (violent run-ups prior to the halving are historically NOT common).
Full story
“Absolutely no respect.”
“Where is the sense of tradition?”
“You’re going to upset a lot of people.”
These are all things muttered around our office (usually to ourselves or on our computer screens) – but all focused on the price of Bitcoin.
In the few hours since we made all that fuss celebrating BTC’s price hitting $54,000 for the first time since 2021, the damn thing went and claimed $55,000…
Then $56k…
Then $57k!
Meanwhile, showing absolutely no respect for short sellers, who bet – and lost – $157M where we bet the price would drop.
Now, here’s the kicker:
The Bitcoin halving it’s still over a month away, and we’re only 25% away from all-time highs – moves that are not uncommon in crypto.
(Bitcoin is up 10% in the last seven days alone).
What is unusual in this situation is seeing such a violent run-up before the halving (in the past the price had a habit of collapsing at this point).
Enjoy the ride, folks!