Bitcoin (CRYPTO: BTC) still trades around $63,000, despite a $100 million hack, Michael Saylor selling, and over 20,000 BTC hitting exchanges.
Analyst SalsaTekila says this is a sign Bitcoin has hit the depression phase of the cycle.
Why The Resilience Matters More Than The Headlines?
The pseudonymous analyst took to X to point out that Bitcoin completed its capitulation in late June and this week only strengthened that case.
The Coldcard hardware wallet hack was the scariest security event since the COVID crash, since the ability to securely self-custody Bitcoin has always been a core reason to buy and hold. Bitcoin barely ticked lower.
