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Bitcoin Taken IN Context

Bitcoin has been in a kangaroo market going from green future’s buying last spring to the red future’s sell off in the 3rd QTR 2021.  Bitcoin went back to green buying in future’s in October, November and has been selling off, and accumulating since then.  Thus, a kangaroo market with buying and selloffs as it accumulates in this $30K to $69K range.  We keep thinking it will break out, only to see a fake out and back down we go.  The less convicted buyers sold to the most convicted buyers.  Neutral ATM has not sold any Bitcoin.  We have no plans to.  Below, is the futures perpetual funding rate – all exchanges chart.  We can clearly see the future’s buying and selling patterns here during this year of kangaroo market Bitcoin has seen:


Neutral ATM - Bitcoin Taken IN Context


Now, enter the Ukraine Russia crisis in February.  Russia was kicked out of the SWIFT banking system and Friday, Mastercard and Visa will not allow credit to Russian card holders.  They are cut off.  The dollar was weaponized against Russia.  Now Russia has gone to the MIR card which is outside the SWIFT banking system.  However, Russians know Bitcoin, which is also outside the SWIFT banking system.  Below is a chart of Bitcoin priced in Rubles: 


Neutral ATM - Bitcoin Taken IN Context


Last week we showed charts of the wallets holding Bitcoin reaching all time highs.  The unrest in Ukraine and Taiwan is leading to more Bitcoin adoption.  Citizens getting out from under sanctions, getting outside the SWIFT banking system.  Bitcoin is unseizable.  Even if banks shut down onramps in certain areas, there are banks worldwide with crypto onramps for Bitcoin.  Bitcoin can be bought peer to peer with no onramp needed.  Offgrid mining needs no onramp.  Bitcoin can be mined from a ham radio or from a flash light in morse code.  It cannot be shut down by a government or sieved either.  


Between Putin and Trudeau having one country (Russia) have santions put on them, the other country (Canada) sanctioning their own citizens who protest their policies.  Bitcoin looks like a great alternative to get out from under central bank control.  Then, Xi in China getting ready to invade Taiwan, this could lead to financial weaponization of some kind.  Finally, Jerome Powell in the US, just printing more USD to pay off debt ($30trillion+), devaluing future dollars so that debt service is cheaper to the Fed.  All of these leaders point citizens to Bitcoin: