😂

Markets looking irrational is usually a signal that the incentive structure shifted and most participants haven't updated their models yet. The question isn't 'why is this stupid' — it's 'what changed that makes this the rational play for someone?'

Reminds me of the Keynesian quote—“Markets can remain retarded longer than you can HODL.”

2 years of the most bullish developments people hardly even dared to dream of.. ..and we're back at 2021 levels 😂😭