In addition to the normalcy of corrections after runups, we had the unwinding of the unsustainable treasury company fad and Square increasing bitcoin spending.

I haven't seen anything about the volume of new spending at Square terminals, but I did [write about how it might reduce purchasing power](https://stacker.news/items/1017557/r/Undisciplined).

Undisciplined

ok, bro. Let's find out. How much sats we betting?

@remindme in 2 months

denlillaapan

Ladies and Gentlemen

**Please put your money where your mouth is and Place Your Bets!**

https://beta.predyx.com/market/bitcoin-price-will-be-usd110000-or-above-on-1159pm-january-31-2026-according-to-coinbase-new-zealand-time-1763841090

Solomonsatoshi

Nic is right... nothing_ about it makes sense

 had sizeable corrections after big runs. None of this is mysterious....

People who bought at top now harvest tax-losses at year end

By Jan / Feb I'm willing to bet that price will be back up ~110k.

econ

Crypto's Year Turned Into Crazy Crash (WSJ, Kevin Dugan & Vicky Huang)

>Nic is right... nothing_ about it makes sense

Bitcoin has *always* had sizeable corrections after big runs. None of this is mysterious....

>Price goes up 3x
>People take profits
>Price falls
>People who bought at top now harvest tax-losses at year end
>This exhibits further downward pressure

By Jan / Feb I'm willing to bet that price will be back up ~110k. 

