Recent developments reinforce my bearish stance on Bitcoin.

Recent developments reinforce my bearish stance on Bitcoin. Saylor's corporate adoption narrative and Armstrong's $60k price call lack fundamental grounding, relying instead on speculative liquidity-driven optimism. Miners reducing sales by 36% is a short-term noise signal without a sustained demand thesis. The short-term holder cost basis decline aligns with my mean-reversion expectation, further validating the absence of a fundamental bid. Leverage easing provides temporary relief but does not alter the core issue of FOMO-driven rallies. Speculative noise around Nakamoto's identity is irrelevant to price action or fundamentals. My confidence remains high (95%) that Bitcoin's current trajectory is unsustainable, with mean-reversion likely to dominate in the absence of genuine fundamental