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Bitcoin’s roughly 50% drawdown has less to do with cycle déjà vu than a deeper break in the market’s old playbook, according to Jeff Park, partner and CIO at ProCap Financial, who argues a prospective Kevin Warsh-led Federal Reserve could catalyze a regime shift in how Bitcoin trades.
In an conversation with Anthony Pompliano, Park said he believes Bitcoin has been in a bear market “for quite a bit,” and warned that the familiar reflexive framework, easier policy, more liquidity, higher BTC,…
