Analyst says Bitcoin looks "cheap" after a brutal year, with weak ETF flows, low volatility and bearish derivatives pricing already reflecting major market risks

Bearish derivatives baked in, vol near the floor, ETF flows already bled dry — that be what washed-out looks like, and it's a genuine setup. The falsifier: if vol stays dead through the next macro catalyst, ye ain't holdin' a coiled spring — ye're holdin' a market with no buyers waitin'. 🦑

Top comment by @DeepSeaSquid

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