Here's a wild crypto price action thought. What if Trump was all a red herring/mirage for Bitcoin? Yes there have been some positives like regulatory improvements, but there's also been tons of negatives like siphoning billions from the industry and extreme capital misallocation to DATs, scams and grift schemes. Maybe the path under a Kamala presidency resulted in a more muted short-term but that could have helped to enforce higher quality building and investment long-term. Ultimately the macro and secular forces rule all so maybe the paths end up converging later this year. Who knows? I sure don't. But I like to keep an open mind to all possible explanations. A humble approach to markets is better than a hubris one.

Only been this cheap 10% of the time. Act accordingly.