Easy to be bearish, but we still have many bullish catalysts:

• BTC ETF continued inflows
• ETH ETF launch soon
• Regulatory pivot
• Interest rates at all-time highs, with the EU and Canada already decreasing
• Stocks at all-time highs
• Gold close to ATH
• Stablecoin supply at ATH
• Circle's stablecoins compliant with MiCA, boosting integration in finance and commerce
• Stripe integrating stablecoins
• Paypal's newly launched $PYUSD growing ($405m issued)
• Blackrock pushing for asset tokenization
• Newly issued altcoins already down ~80%, resetting valuations
• Polymarket gaining traction beyond crypto natives
• Blockchains finally starting to scale

Finally, when Germany, the US government, and Mt. Gox are done, it will clear the last overhang.

Usually, sellers are easy to spot, but new buyers are obscure.

***CREDITS: Ignas defi research***