@Alther 6 December 2025 more from that month

Bitcoin is brushing up against its old ceiling again. Since 2019, it has only broken above the mid-range of its long-term channel when fresh liquidity from QE flooded the market. That fuel isn’t here right now. The trend is slow, cautious, and waiting for a real catalyst to ignite momentum. In this dry phase, low volatility isn’t weakness—it’s simply the sign that the engine hasn’t been switched on yet.