ETF expert Eric Balchunas argued Bitcoin's 17-year track record and multiple recoveries make tulip mania comparisons obsolete despite recent criticism. Bitcoin can no longer be compared to the “Tulip Bubble” due to its endurance and resilience over the years, according to Eric Balchunas, Bloomberg’s exchange-traded fund expert. “I personally would not compare Bitcoin to tulips, no matter how bad the sell-off,” said the senior ETF analyst on Sunday. Balchunas pointed out that the tulip market rose and collapsed in around three years, “punched once in the face and knocked out,” but Bitcoin (BTC) has “come back from like six to seven haymakers to reach all-time highs and has survived 17 years.” Read more
Bitcoin’s liveliness indicator reached new peaks, suggesting strong demand despite lower prices and signaling the bull market cycle may not be over yet. A technical indicator called liveliness is rising, which historically signals bull run activity and could mean that this market cycle is not over yet, say analysts. “Liveliness continues to march higher this cycle despite lower prices, indicating a floor of demand for spot Bitcoin that is not reflected in price action,” said technical analyst “TXMC” on Sunday. The analyst explained that the “elegant metric,” which is like the long-term moving average for onchain activity, is a running sum of all lifetime spending compared to holding activity onchain. Read more
XRP traders are eyeing a rally, Kalshi taps Solana, Peter Schiff fails to authenticate gold bar during onstage test with CZ: Hodler’s Digest Two long-dormant Casascius coins each backed by 1,000 Bitcoin have just been activated as of Friday, unlocking more than $179 million stashed away for more than 13 years. Onchain data indicates that one of the Casascius coins was minted in October 2012, when Bitcoin was trading for $11.69. The other was minted earlier in December 2011, when Bitcoin was valued at only $3.88, giving that Casascius coin a theoretical return of about 2.3 million percent, not including the cost of minting. Read more