HODLers: From Lambos to Tax Bills (and Tears)
The Humbling of the HODLers "Investor sentiment is described as confused, resolved, and humble." Humble? Give me a break. More like broke. And confused? Offcourse, they are! They were promised Lambos and early retirement, and now they're staring down the barrel of a tax bill that's bigger than their remaining portfolio. Then there's El Salvador, bless their naive little hearts. Buying the dip at ~$90,000 a pop? That’s not a dip; that's a goddamn chasm. At this point, Bukele's Bitcoin obsession is less about financial innovation and more about national-level gambling addiction. It's funny, in a sick sort of way, seeing the "experts" scramble for explanations. "Investors may be crowding into lending names." Oh, so now we're pretending that lending is somehow immune to the market implosion? That's like saying deck chairs are safer on the Titanic because they're closer to the lifeboats.Bitcoin's Amputation: Denial Ain't a River in Egypt
The Ghost of 2025's Christmas Yet to Come Bitcoin's lost a third of its value in seven weeks. A third! That's not a correction; that's a goddamn amputation. And the Bitcoin Trend Indicator flashing "Significant Downtrend" for almost a month? Someone should have paid attention to that. Then again, maybe I'm the crazy one here. Maybe everyone else is just too optimistic, or too deep in denial, to see what's coming. Some DEXes are posting greater 30-day fees. Okay, great. So a few casinos are still making money while the whole damn city burns down. Doesn't exactly inspire confidence, does it? And HYPE's "relative outperformance"? Please. We're clutching at straws here. AAVE's planning a high-yield savings account? Oh, wonderful. Because what crypto really needs is another unregulated bank promising unsustainable returns. Where have I seen this movie before? Oh right, everywhere in the last five years. MORPHO is expanding its Coinbase integration. Congrats. I guess? The CoinDesk 80 Index is doing okay. Good for them. GoPlus generated $4.7M in revenue. Whoop-dee-doo. Crypto Winter: The Sequel So, what's the real takeaway here? DeFi is a failed experiment? Crypto is dead? Not necessarily. But let's not pretend this is just a "bump in the road." This is a reckoning. A brutal, painful, and long-overdue reckoning. Time to Admit It: We Were Wrong
