The Sunset of Bitcoin Optimism

🔲Jacob King, head of SwanDesk, made a stark prediction: in his view, Bitcoin will never revisit its all-time highs, and the current decline marks the beginning of the asset’s eventual “death.” The drop below $85,000 has amplified this narrative, with long-time critics like Peter Schiff accusing Bitcoin maximalists of hypocrisy and highlighting the fragility of Michael Saylor’s corporate strategy.

🔲However, analysts at Glassnode see the market not in a state of capitulation, but in a phase of “fragile equilibrium.” They note signs of seller exhaustion and a gradual softening in sentiment, but emphasize that a sustainable reversal will require fresh capital inflows and genuine spot-market demand — not just dramatic statements from either Bitcoin advocates or detractors.