BTC’s Abyss? 😱 Analyst’s Shock S&P Prediction! 🤯

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Ah, Bitcoin, that fickle mistress of fortune! An analyst, one among the many prophets of our digital age, dares to speak of its fate. He believes, you see, that if Bitcoin, this ephemeral deity of wealth, clings to a certain precipice – a level, as they call it – it shall remain, miraculously, in a bull cycle. A bull cycle, imagine that! As if the markets themselves were not a grand, absurd theater of chance and despair. 🤔

Benjamin Cowen, a name whispered in the hallowed halls of YouTube (a modern-day monastery of sorts, wouldn’t you agree?), with a following of 892,000 souls (each surely trembling with anticipation), proclaims that should Bitcoin tumble below $69,000, a bear market, that ghastly specter, might descend upon us. A bear market! As if we haven’t enough bears in our lives already, gnawing at our very souls. 🐻

“In the short term for Bitcoin, the good news is that we’ve maintained above the 2024 high; we maintained above that. And that’s a good thing. And I still think that Bitcoin could go all the way down to $69,000 and the structure of the market stay intact.

But below that, I would not be as optimistic. Okay, I wouldn’t be. This is the zone [between $73,617 and $69,048] where you really would want to see the bulls come to the table and hold support because if they don’t, and if it comes down here [below $69,000], that’s probably it.” Oh, the drama! The suspense! Will the bulls arrive in time, or will the bears feast upon our digital remains? 🤪

Currently, Bitcoin languishes at $79,752, a mere 4.3% descent in the last 24 hours. A pittance, you might say. But in the world of crypto, even a feather’s weight can tip the scales toward utter ruin or fleeting glory. 😈

Cowen, in his infinite wisdom, also posits that either the esteemed President Trump or the enigmatic Fed will intervene to stem the tide of market woes. Trump, with his tariffs, a modern-day Don Quixote tilting at windmills of trade, and the Fed, that shadowy cabal of economic puppeteers, pulling strings we can scarcely comprehend. 🤡

“I think there are levels in the market where the powers that be will try to step in and try and encourage market participants to take on risk and to get more exposure. And I think there is a chance here that we just figured out where that is for the President, and it’s a 20% drawdown in the S&P or potentially the 10-year yield skyrocketing. Now, we don’t yet know… where the Fed will then come to the rescue. We don’t know that yet….

So it’s one of those things where, if the President steps in and reduces some of the uncertainty, then the Fed might not have to do anything, but if he continues on with it, then we’ll figure out where the Fed put is. If we get out into July and all this tariff stuff just comes right back, then we might figure out where the Fed will actually start to try to intervene. But I thought that this was the level that the President decided it was time to try to intervene and figure something else out.” A tangled web, is it not? A Gordian knot of politics, economics, and sheer, unadulterated speculation! 🤔


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2025-04-11 10:23