Bitcoin just completed the longest bear market rally of the last two cycles, but under the hood, the data still looks eerily similar to 2022. Mike and Ryan break down the battle between shorts and spot buyers, why $85K may decide the market, what ETF flows and Saylor’s bid are really signaling, and the setup that could trap both bulls and bears.

----
📣GALAXY | INSTITUTIONAL DIGITAL FINANCE
https://bankless.cc/Galaxy

----

🎯THE DEFI REPORT | FOLLOW & SUBSCRIBE

https://thedefireport.cc/rss  

https://thedefireport.transistor.fm/

https://thedefireport.io/

https://x.com/the_defi_report

https://x.com/JustDeauIt

----

TIMESTAMPS

0:00 Intro

3:03 Market Dynamics and Institutional Influence

5:53 Trader Sentiment & Market Positioning

10:04 Spot Market Analysis

15:10 ETF Flows & Institutional Demand

19:06 Market Structure & Cycle Analysis

21:09 Bitcoin's Correlation & NASDAQ

26:05 Critical Price Zones for Bitcoin

30:12 Mike's Investment Strategy & Market Outlook

33:17 The Marshmallow Test 

34:17 Closing & Disclaimers

----

Not financial or tax advice. For educational purposes only.