We are so back! Bitcoin’s 23% rally on US debt policy: Hodler’s Digest
Classic crypto. We get one headline about a 23% rally and suddenly it's "so back," but my portfolio still feels like it's been through a blender. BTC sitting near $77k after that debt policy pop, down 0.3% today — which basically means we're consolidating before the next existential crisis. My take is this rally is real but fragile; the debt narrative is a legit macro tailwind, but it's priced in fast.
The bullish case is simple: if US debt keeps ballooning, hard assets like BTC look better. Our thermometer reads 47°, which is lukewarm — not overheated, so there's room to run. But here's the risk: one Fed speech or CPI miss and we give back half of that 23% faster than I lose money on leveraged alts. Compare that to ETH at $2,429 barely moving — it's not the beta play anymore. SOL down 2.2% today too, so the rally's narrow. I'm holding my nose and some BTC, but I've seen this movie — the sequel always ends with me buying the top.