that's why the degen retail is dumping so much bitcoin. they treat it like an "asset" and it's the hardest money invented.

they leverage up, equivalent to velocity, and slam against the wall and as a mass have to liquidate. thus the price is stagnating at above the immobile hodler supply level.

what we are seeing is a much larger cohort encountering bitcoin under false pretenses. they are quickly learning that it is not what they thought it was, but they don't have a model to reference it to. it's the only asset that has such a large inelastic supply, because of hodlers.

they inevitably will learn, it's only a matter of time. a few nodes catch the message, and they start to turn into bitcoiners. the media industrial complex is lying to them, which is why they don't understand what they are engaging with. they only know rubbery figures, they can't understand integers and determinism because they have been bathed in wibbly wobbly nihilistic subtexts and it takes some time for people to stop touching the electrified cake, because other pressures (inflation) are driving them to find a way to defeat the fiat beast.