The buying volumes are decreasing, and right now practically non-existent. The coin has rejected from the resistance zone - situation like this is a great opportunity to accumulate SHORT position on $SLX
The previous bear market had its moment of catharsis - the collapse of FTX, which triggered the final leg down and ultimately marked the bottom.
If we’re looking for parallels with 2022, we should at least consider the possibility of a similar event. Without one, the market may end up resembling 2018–2019, when $BTC reached its bottom through a much softer landing in December 2018.
Is there a candidate today for the role of the next Sam Bankman-Fried?
Yes - Michael Saylor.
And he has already played the role of a harbinger of disaster once before. During the dot-com crash, MicroStrategy’s stock lost more than 99% of its value.
If the Strategy crypto pyramid were to collapse, the shock to the crypto market could be even greater than what followed the fall of FTX. Merely discussing the possibility that the world’s largest BTC treasury might be forced to liquidate part of its holdings — for example, during a bankruptcy process — could trigger unprecedented panic.
There is, however, a silver lining.
The risk of such a catastrophe could motivate the Trump administration to rescue Saylor’s empire. Strategy’s market capitalization is currently around $35 billion. From the perspective of the U.S. federal budget, saving a company of that size is technically not difficult. The harder part would be finding a political justification.
That said, Trump has shown a talent for exactly this kind of challenge. After all, he is reportedly willing to discuss large-scale concessions abroad. Compared to that, directing a few billion dollars toward an American company — while pleasing millions of crypto voters — might seem like an easier sell.
✔️ For now, the key question remains unchanged: will this bear market find its own FTX-style capitulation event, or will crypto drift toward a bottom through a slower and more gradual process?