While Bitcoin $BTC wavers after flirting with its highest peaks, Michael Saylor pulls out a sharp quote from Phil Knight. Through this nod to the Nike founder, the Strategy founder reaffirms his hard line. A strong reminder addressed to weakened investors, in a climate where confidence is measured according to market trend reversals.
In brief
Bitcoin is taking a breather after nearing $123,000, amid an uncertain and volatile market.
Michael Saylor responded to this slowdown with a striking quote from Nike founder Phil Knight: “The cowards never started, and the weak died along the way.”
This statement comes as BTC moves without clear direction and several technical signals point to a weakening bullish trend.
The future of BTC may depend as much on market psychology as on the behavior of major holders in the coming days.
A strong statement in a hesitant market
While the Bitcoin price experiences a sharp slowdown after reaching a peak near $123,000, Michael Saylor took to the social network X (formerly Twitter) to send a blunt message to the crypto community : “the cowards never dared to start, and the weak fell along the way”.
This sentence, taken from Phil Knight’s book “Shoe Dog”, the founder of Nike, was shared by Saylor as BTC lost momentum and began a retreat below $119,000. Currently, Bitcoin was trading at $117,759.
This braking comes in a tense technical context. Bitcoin had just tested the upper part of an “air gap” identified between $104,000 and $114,000 without managing to break it sustainably.
This zone now represents a threshold of volatility and strategic uncertainty. In this climate, Saylor’s statement is meant as a signal of resilience addressed to the community. It carries even more weight as it comes amid multiple indicators suggesting a temporary fading of bullish momentum :
The rebound started from $117,459 stopped abruptly at $119,284, failing to initiate a new bullish wave ;
The BTC market has now been moving without clear direction for more than two weeks, leaving traders uncertain ;
The absence of macroeconomic catalysts or major announcements maintains a feeling of waiting, conducive to caution.
Saylor’s speech thus fits into a context of widespread hesitation, where confidence remains suspended on upcoming market movements, whether technical or based on institutional announcements.
Whales awaken : signs of profit-taking ?
While investors struggle to discern Bitcoin’s short-term direction, notable movements on the blockchain have heightened the climate of mistrust. Indeed, a wallet inactive for over 12 years transferred 343 BTC in recent hours.
Another wallet, silent for 12 years and 4 months, holding 330 BTC, was also reactivated. While these movements are not direct proof of sales, they signal abnormal activity from long-term holders, often associated with periods of high uncertainty or profit-taking.
Meanwhile, Lookonchain reports that Galaxy Digital, a financial institution specializing in crypto, transferred 3,782 BTC, approximately $447 million, to several exchange platforms.
https://twitter.com/lookonchain/status/1950008954555171243
These massive transfers, added to the sale of more than 80,000 BTC (about $9.3 billion) to an investor from the “Satoshi” era the previous week, fuel speculation about a disengagement or portfolio rebalancing strategy.
This zone now represents a threshold of volatility and strategic uncertainty. In this climate, Saylor’s statement is meant as a signal of resilience addressed to the community. It carries even more weight as it comes amid multiple indicators suggesting a temporary fading of bullish momentum :
The rebound started from $117,459 stopped abruptly at $119,284, failing to initiate a new bullish wave ;
The BTC market has now been moving without clear direction for more than two weeks, leaving traders uncertain ;
The absence of macroeconomic catalysts or major announcements maintains a feeling of waiting, conducive to caution.
Saylor’s speech thus fits into a context of widespread hesitation, where confidence remains suspended on upcoming market movements, whether technical or based on institutional announcements.
Whales awaken : signs of profit-taking ?
While investors struggle to discern Bitcoin’s short-term direction, notable movements on the blockchain have heightened the climate of mistrust. Indeed, a wallet inactive for over 12 years transferred 343 BTC in recent hours.
Another wallet, silent for 12 years and 4 months, holding 330 BTC, was also reactivated. While these movements are not direct proof of sales, they signal abnormal activity from long-term holders, often associated with periods of high uncertainty or profit-taking.
Meanwhile, Lookonchain reports that Galaxy Digital, a financial institution specializing in crypto, transferred 3,782 BTC, approximately $447 million, to several exchange platforms.
https://twitter.com/lookonchain/status/1950008954555171243
These massive transfers, added to the sale of more than 80,000 BTC (about $9.3 billion) to an investor from the “Satoshi” era the previous week, fuel speculation about a disengagement or portfolio rebalancing strategy.
The market, already weakened by the lack of a clear trend, could interpret these signals as precursors to a sharper correction if other institutions follow suit.
The accumulation of these factors makes the situation complex to interpret. On one hand, Michael Saylor adopts an almost epic tone to encourage endurance. On the other, on-chain signals reveal a reshuffling among major players. In the future, Bitcoin’s ability to maintain its current levels will depend as much on market psychology as on concrete on-chain movements, which could drive the flagship asset towards $ 150,000.
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