Analyst Luke Gromen Turns Short-Term
Bearish on Bitcoin — But Stays Long-Term Bullish
Macro analyst Luke Gromen says he remains structurally bullish on Bitcoin, but has shifted to a short-term bearish stance.
Key reasons behind his caution:
• BTC still trades like a tech asset
Gromen notes Bitcoin remains tightly correlated with tech stocks. If tech weakens, BTC may feel the pressure too.
• AI’s real bottleneck is electricity, not chips
He believes future AI competition will hinge on power access, which could hurt both tech equities and Bitcoin sentiment.
• No decisive breakout vs gold
Bitcoin hasn’t clearly outperformed gold, raising questions about its strength in the current liquidity cycle.
• Liquidity outlook is extreme
Gromen sees two possible futures:
Massive “nuclear-level” money printing 📈
Or sharp liquidity contraction 📉
Both scenarios bring volatility, not stability.
• Quantum computing risk
He flags quantum tech as a long-term threat to Bitcoin security, possibly within 2–9 years.
👀 Interesting side note on Tether
Gromen is closely watching Tether’s balance sheet, noting: — Growing exposure to gold and AI — Gold holdings now outweigh Bitcoin, which he finds notable
🧠 Bottom line:
Short-term caution, long-term conviction.
Bitcoin’s big thesis remains intact — but the next phase may come with turbulence.
