I really don't see a reason to be bearish. The HTF trend remains bullish. BTC and ETH are supported by strong ETF flows, and this remains an institutionally driven cycle. The SEC is now committed to bringing US markets onchain and creating a pro-innovation environment, with very clear rules for builders. The biggest economy in the world is behind crypto in a very public way. The US has identified that stablecoin issuers can be their big new buyer of debt, which means it is very much in their interest to pump crypto. Yes, we can top on very bullish news and likely will eventually, but there is little euphoria around imo, and an ever present wall of worry. I've witnessed two years of day traders calling cycle tops. That is just what happens on here. You are mostly better off muting traders whose time horizons don't match yours. It's unnecessary information that you won't action, and will just cause confusion and panic. August might be shit, I don't know, but right now I still think buying the dip, or simply doing nothing, is the right move. One day we will have the conditions for a proper cycle top, but I don't see that today.
19,24K