$BITCOIN ’s 50% slide isn’t a meltdown, says hedge fund veteran Gary Bode
Hedge fund veteran Gary Bode says bitcoin’s near-50% fall from recent highs looks dramatic but isn’t a sign of deeper trouble. According to Bode, sharp drawdowns are part of bitcoin’s DNA and have historically been temporary rather than symptoms of a broken market.
He argues that investors have overreacted to policy signals, misinterpreting the nomination of Kevin Warsh as a cue for tighter Federal Reserve action. That confusion, combined with margin calls, profit-taking by large holders and whale selling, helped accelerate the selloff.
While short-term pressure could continue due to leveraged “paper” bitcoin and stress on firms like Strategy, Bode says none of this changes bitcoin’s fixed supply or its long-term role as a high-volatility store of value.#Bitcoinhaving $BTC
