It's been a longstanding joke in the crypto market that when McDonalds brings back the McRib we get a massive rally in the crypto market. Never fear fellow degens: our time has arrived. The McRib has returned.
Until you realize that they brought it back in 2018 and 2022 and we got crushed during those bear market years. Funny how the people that make these charts do it with rose colored glasses and make sure to leave those ones out of the analysis. Classic cherry picking and survivorship bias right there.
Perhaps the funniest thing about this development is that Bitcoiners ("Satoshi fans"?) and crypto-goers in general are reacting to this announcement. If ever there was a time to be coping about "it's so over" vibes with the "we're so back" counterpart, this seems to be doing the trick. The level of mixed emotions and fears in the market are a cacophony of shrieking at this point. The McRib is just more noise.
I already predicted that we'd get to the MA(25) on the recovery bounce, and we got damn close so I'll call that a win. Unfortunately Sunday pumps tend to always give back their gains because of the so-called low-liquidity CME gaps they create. I assume we'll get back to $102k soon to fill the gap before we can breakout in any meaningful sense. But the market is quite dicey at the moment. Dicey in terms of sentiment... while the price action is honestly pretty boring as everyone makes a mountain out of a mole hill.
The moving averages are all within 5% of each other which is still screaming bullish stability. Ignoring the DMA 25 lowers that range to 2.3%... which is pretty great in terms of the longer averages. Of course they are all on a collision course for 2 more death-crosses, but I assume those will be duds as the lines aren't steep and the bulk of the move has already been made down to unit bias.
Before we hit $100k it took forever to break above it and even longer to hold a position above it. Now we are in the opposite scenario. Whenever BTC goes down to 5-digits nobody wants to sell and the buying ramps up quickly. Grinding on $100k for 4 candles in a row was not ideal but it confirms that unit bias is strongly on our side now, and we have an unknown level of buying pressure left within this range.
It's interesting that all the fear we are seeing in the space is the brutal anticipation of a devastating 2026 bear market. People are complaining a lot less about today's price and much more worried about what happens next year when price traditionally falls off a cliff according to 4-year cycle theory. I myself have started wondering if I need to protect myself in the case of such an event, but also I maintain that crypto is a "what goes up must come down" asset. We didn't go up so we don't have to come down yet.
It's crazy to think that both Ethereum and Solana didn't even make all time highs in the last four years. Meanwhile Bitcoin didn't even double it's last all time high from four years ago. Of course if we look at bearish analysis they will say ridiculous things like "Eth made all time highs so number can easily go down". Let's take a look at that claim.
That is not an all time high. This is crypto, not the stock market. Nobody cares if it went half a percent higher than it was 4 years ago. Stop being ridiculous. What's crazy is that ETH has been no stranger to institutional adoption. The current peak is a lot more sustainable than the one 4 years ago. Of course that North Korean hack down to $1500 didn't do us any favors, but I see no reason why ETH couldn't stabilize at $3000 or $2500 even in the worst case scenarios. Unfortunately the alt market seems to depend on the #2 coin which is why I assume we haven't gotten a real alt-market yet. Not gonna happen until ETH is $6000+ I guess. Unfortunate.
Looking at Hive today we got a minor pump/dump situation that most of us probably completely missed and slept through. Up to 14 cents and back to 12 again in record time. Today was supposed to be the 11.11 VSC (now MAGI?) launch of BTC liquidity pools on Hive but has been delayed due to stability issues and syncing with the upcoming hardfork. Business as usual I suppose. I really do need to study this upcoming hardfork and see if I can utilize the tech for anything. Would be fun to build something during this trying time and keep my brain off of all this price action nonsense.
PUMP MY BAGS MCRIB DO EET.
