Everyone wants your Bitcoin, and according to one of its loudest long-term advocates, that is just the way the market is right now. Samson Mow, who is known for defending a $1 million Bitcoin thesis, says the recent tone in crypto commentary is not organic fear but targeted pressure to extract supply from weak hands at a sensitive stage of adoption.
Mow’s warning comes at a time when Bitcoin is trading near $89,800 after falling short of reclaiming the $95,000 area. If you look at the daily chart, you will see a clear “down only” sequence of lower highs since the October peak above $125,000. Now the price action of the cryptocurrency range has narrowed to about $85,000-$93,000.
It is not uncommon for BTC to behave like this, but for Mow the key difference from the past is timing. Bitcoin ETFs are becoming more of a usual scene in traditional portfolios, and discussions about reserve diversification are no longer just theoretical.
What’s happening is a pretty contradictory situation as people are more afraid, but they are also getting more access. Mow says this is on purpose, and that the bearish messages are increasing just when Bitcoin’s role in the financial system becomes harder to reverse.
What’s next for Bitcoin?
From a market perspective, the next signal is rather mechanical. If the price closes above $93,700 each day, it will open the door to reaching $100,000 again, which will force short positions to unwind. But if you miss the $87,400 BTC, you are probably looking at the August congestion zone near $82,000, where long-term holders tend to pop up again.
Mow’s main message is not about candles or headlines; it is all about ownership. As Bitcoin becomes more involved with regulated balance sheets, the amount available outside them is more important than the price of BTC. He says that the reason everyone wants your Bitcoin now is because there is so little of it.