Bitcoin MELTS THROUGH ATH Resistance like BUTTER!!

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Description

Bitcoin (BTC) price surpasses $71,000, reaching new all-time highs! Here's what you need to know. 🌼 GET $30,000 in rewards on Bybit: https://partner.bybit.com/b/boxyt BingX Sign-up Bonus: https://bi...

AI Analysis

This is an emergency stream celebrating Bitcoin melting through its all-time high resistance, surging past $71,000. It's a significant moment for the crypto market as Bitcoin enters "price discovery," meaning there's no historical resistance above this level. The atmosphere is one of extreme greed, yet surprisingly, widespread retail interest hasn't fully kicked in yet.

Here's a breakdown of the key topics and insights:

* Bitcoin's All-Time High Breakout: Bitcoin definitively crossed the $71,000 mark after being repeatedly rejected around $69,000 and $70,000 for the past week. This breakout was marked by a rapid, $3,000 green candle, indicating strong bullish momentum. For Bitcoin, breaking this historical barrier means it's now in uncharted territory, or "price discovery," with no prior resistance levels to hold it back.

* Current Market Sentiment vs. Retail Interest: While there's "extreme greed" in the market, a check of Google Trends for Bitcoin worldwide shows that search interest is only at 52% compared to its 2021 peak. This suggests that mass retail investors haven't fully entered the market yet, and many still perceive Bitcoin as "too expensive." The belief is that when retail FOMO truly kicks in, the market will see even more explosive growth.

* The Impending Bitcoin Halving: The halving event is just 37 days away, which will reduce the daily supply of newly minted Bitcoin from 900 to 450. This creates a significant "supply shock" by cutting the daily sell pressure from miners (who need to sell Bitcoin to cover electricity costs) by half. This anticipated supply reduction is a major catalyst driving current prices.

Institutional Investors Buying In Early: One theory for the early approval of Bitcoin ETFs was to allow large institutional investors to buy Bitcoin before* the halving. Fund managers, like those from Valeron Capital (managing $40 billion in assets), want to make substantial investments, not just a few million dollars. A 10% allocation for such a fund could mean a $3.6 billion investment into Bitcoin, illustrating the immense buying power that is just starting to impact the market.

* Anticipation of Altcoin Season: Despite current price surges, the market hasn't fully entered "altcoin season" yet. Bitcoin is still leading the charge. When Bitcoin stabilizes after its pump, that's typically when altcoins experience their most explosive growth. Examples like BNB hitting $500 (from $300 recently), Polkadot's potential return to its previous high of $50, and Chainlink's "God-tier pump" are mentioned as indicators of the massive potential still unlocked in the altcoin space. Mantle, a less-known altcoin, is also highlighted for its passive growth, linked to Bybit's growing influence.

* Investment Strategy and Security: The personal investment strategy shared is roughly 70% in Bitcoin and Ethereum, and 30% in altcoins. A crucial piece of advice is to move Bitcoin and Ethereum off exchanges to personal wallets due to past "exchange blow-ups," while keeping altcoins on exchanges for the necessary speed to buy and sell quickly. The strategy includes "grid trading" specific altcoins like Floki during their pumps and corrections.

* Importance of Open-Mindedness to New Trends: Learning from past cycles, it's crucial to be open-minded to new projects and trends like DeFi (e.g., early Wi-Fi farming) and meme coins (Brett, Floki, Dog with Hat). Even though meme coins might seem less "tech-focused," they are often the first thing new retail investors buy and are increasingly being listed on major exchanges, sometimes even surpassing the market cap of traditional companies. The BoxMining Plus channel is specifically dedicated to "edgy, experimental stuff" like early airdrops and less conventional projects.

* Access to Exchanges for Early Opportunities: It's important to have accounts on exchanges like Bybit, BingX, and MXC. These platforms often list new coins much faster than larger exchanges like Binance, which is usually the "endpoint" for coins. Getting on these smaller exchanges provides the opportunity to buy coins before they go parabolic, as price tends to increase significantly with each new exchange listing. These platforms also offer the speed needed to "dump shitcoins" when necessary.

* Overlooked Global Market Catalysts:
* US Presidential Elections: The upcoming US elections are a significant, often overlooked, factor. The sentiment is that most candidates are pro-crypto, potentially leading to a favorable regulatory environment and even a "regime change" at the SEC.
* Binance's Legal Clarity: Binance, despite past legal troubles, is now operating in a "legal white area," making it more accessible to users worldwide.
* Korean Market Activation: The Korean market is showing signs of reactivating, with nearly 30% of the population holding crypto exchange accounts. Historically, Korean politicians who try to interfere with crypto are voted out, forcing them to allow crypto to flourish. The return of the "Kimchi Premium" (where Koreans pay significantly higher prices for Bitcoin due to strict financial controls, sometimes physically moving cash to buy it abroad) is an indicator of strong demand and potential future surges from Asia.

* Personal Reflections and Hobbies: The bull run is exciting, but it's important to remain grounded and not use excessive leverage, as flash crashes can wipe out portfolios. The presenter also shares personal "stress buying" habits, including acquiring a new 4K mini-screen and a powerful, compact mini PC for running crypto nodes, linking it back to his early days of Bitcoin mining in 2012. He expresses gratitude for the current market conditions and the journey with the audience.

Transcript

Welcome back to BoxMining. It's an emergency stream here. My name is Michael. My name is Ron. We got Ron here. We got Ron here. Now we are celebrating Bitcoin $71,000. Yes, sir. Wow. I got notifications for this like literally on my phone. I was like talking to someone. I was like in a meeting and I dun dun dun. 71K. I was like, I got to quit this meeting right now. I got to leave. I like that like we got to leave right ASAP as Bitcoin crosses. This is a very important threshold. Right. Yeah. S...