Bitcoin’s Wild Swings Prove Twain-Style Long View

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Pompliano says Bitcoin‘s sharp drawdowns are simply the weathered lines of a long voyage, even as fear sits on the fence and liquidations run like a band of flies around a sugar barrel.

Bitcoin’s been marching south with the stubborn gusto of a mule in a rainstorm. Across the land of macro trouble, prices have tumbled, and most assets have given up more than half their value. Folks have begun to whisper to their ledgers, wondering if the end is nigh.

Yet, despite the gloom, that old correspondent of charts, Anthony Pompliano, swears the growth is still on the march. He says the coin’s wild swings aren’t the death rattle of a grand scheme but the spry steps of a long journey.

BTC Slips Below $60K as Bearish Sentiment and Liquidations Mount

TradingView folks show BTC slipping under sixty thousand on Monday’s early light, erasing over half from its peak. As I write, the coin has clawed its way back to around $65,976, yet it remains down more than 7% on a single day.

Image Source: TradingView

The mood of the market sits squarely in the bearish corner, and the Fear & Greed Index has sunk to a yearly low of 9-extreme fear, if you care to borrow a line from the town preacher.

Right now, the OG crypto sits below the 200-day SMA, which tells of a stubbornly weak trend. In the last four weeks, there have been only ten days of sunshine in the form of positive sessions. Price swings and forced liquidations tend to push highly leveraged traders out when the road grows rough.

Image Source: CoinGlass

Liquidation tallies confirm the pressure and volatility facing the blue-chip asset. According to CoinGlass, the crypto markets shed about $2.58 billion in a single day, mostly tied to long positions. A sharp price drop triggered $817 million in ETF liquidations within four hours, further proving the market’s nerves are on a tight rope.

Bitcoin’s Repeated Drawdowns Are Part of Its Growth Story, Says Pompliano

Despite Bitcoin’s present scrape, Pompliano holds that volatility has long defined the coin’s ascent. The veteran analyst notes the OG coin rose from a fraction of a cent to over $126,000 in roughly 15 years, and along the way has weathered repeated market tumbles.

“Bitcoin is a volatile creature. It went from $0.01 to $126,000 in about 15 years. There were many 50-85% drawdowns along the way,” Pompliano says.

The analyst adds that BTC has averaged a crisis-scale decline every 18 months over the past decade. Even so, long-term holders keep their eyes on the horizon and shrug off the short-term fear.

Pompliano points out that network activity remains steady, even in this market mood. Critics cheer downturns only to see the OG coin recover in bull markets. He also notes that currency debasement tends to favor scarce assets over time, thus giving BTC’s long view a healthy edge.

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2026-02-06 17:14