Published 27 May 2026, 20:30 UTC · fetched 14 Oct 2026, 10:57 UTC
K A L E O
@CryptoKaleo
Quoting · 27 May 2026, 00:15 UTC · context given to the AI
Kaleo's bear case, in order of what he's actually worried about: 1. Equities top. Everything else follows from this. Bitcoin is weak enough that it can't absorb a macro shock independently. 2. Trump. Not a specific prediction. Just the acknowledgment that the distribution of possible outcomes is wider than any model can capture right now. Warsh, geopolitics, policy reversal — pick one. 3. The exploit environment. Record count, record capital stolen. Capital won't move into protocols in this environment. The bull case that survives all three: AI infrastructure eventually makes crypto more secure, not less. The pain forces the improvement. The improvement enables the use case.#Bitcoin / $BTC This question challenged me to think critically about what else is a "bear case". Outside of what I listed, the biggest one left on the table is cyclical performance. The last 3 bull market peaks occurred ~536 days post their respective BTC halvings. All within 13 days of that number. On the same note, the last 2 bear market bottoms occurred ~908 days post halving, both numbers within a few weeks of that number. Which brings us to where we are now, ~769 days post halving... it's a small data set to go off of, and there are plenty of other external factors that affect each cycle differently - but I still would see it as a decent counter-argument to any *short term* bullish bias I have. We're still ~4.5 months out from what would be the bottom if we were to continue to follow what's been a consistent trend (e.g. bottom in October 2026). Fwiw - if you look at the four month average price of BTC on either side of those bottoms, they were all incredible opportunities to stack more Bitcoin. So like I also said in the interview - now isn't when you want to sit back and trade leverage because you're bored. Instead, leverage your boredom and spend that time to build something great. I'd love to see a bounce at $70K like I've shared over the last several weeks - but I'm fully prepared to use any extra time the market gives me to keep working harder and stack more. Be more bullish.View original on X ↗
Deterministic: the same prices and policy always give the same result
unscored Awaiting manual review
Only the end-of-horizon price counts. A brief move followed by a reversal is not a success. Read the methodology
Uses only text available at publication time
Think the interpretation or outcome is wrong? Sign in with X to request a correction, so reviewers know who is asking.
Sign in to request a correction