What Bitcoin Did $100K Bitcoin: Is the Cycle Breaking? W/ Checkmate
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May 12, 2025 Checkmate, an on-chain analyst and founder of Checkonchain, discusses Bitcoin's recent surge past $100k. He reveals insights from on-chain data, highlighting who is buying and selling. Topics include the potential end of Bitcoin's market cycles and how macroeconomic factors, like gold's performance, might signal a longer bullish phase for Bitcoin. The conversation also dives into the OP_RETURN debate and its implications for the Bitcoin community, blending market psychology with the evolving cryptocurrency landscape.
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Bitcoin $100K Breakout Significance
- Bitcoin breaking above $100K cleared a major supply zone where many recent buyers waited to de-risk.
- This breakout shows bulls are currently in control, with sellers mostly absent at these levels.
Buying Bitcoin Near $74K
- Checkmate personally bought Bitcoin at about $74K after becoming acclimatized to seeing prices in the high 80Ks to 90Ks range.
- This shows how investors psychologically adjust to new price ranges and react to perceived bargains.
Gold as Leading Indicator
- Gold's recent strong rally signals a reshaping of the global economy towards sound money principles.
- Historically, gold moves first before Bitcoin follows in these mutual reserve asset shifts.