Why is Bitcoin suddenly blowing through a resistance level that's held for a while?
I've got three theories, probably all true at once.
First, flight to safety. The bond market's been moving, and that's a worry signal for inflation and rates. When money gets nervous about sitting in fixed income, some of it rotates into Bitcoin instead.
Second, mechanical. A lot of shorts were stacked up against that resistance level. Once it broke, those shorts got squeezed and forced to buy back, which just adds fuel on top. Same thing that sent GameStop vertical.
Third, the CLARITY Act looks like it's actually gaining traction. Easier institutional rules tend to pull sidelined capital in fast.
None of these need to be the only reason. Markets rarely move for one clean cause.
As a holder, I like seeing it plow through resistance like that. History says Bitcoin does this, long stretch of nothing, then a sudden leg up out of nowhere. Hoping this is one of those. We'll see.
