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MSTRBEARISHFLIPPEDCNBC FAST MONEY · BULLISH IN AUGUST → BEARISH IN AUGUST

Bitcoin's rally lacks fundamental conviction

The case was made that Bitcoin's recent surge is more of a trading vehicle move than one driven by clear fundamentals, with a hawkish Fed posing a headwind.

CNBC FAST MONEY CHANGED ITS VIEW

BULLISH FOR 10 DAYS, THEN THE TURN
THEN21 AUG · BULLISHThe panel attributed Bitcoin's surge to a confluence of positive factors including White House tailwinds, improved odds for regulatory clarity, gold's strength, and a shift in rate expectations.NOW31 AUG · BEARISHThe case was made that Bitcoin's recent surge is more of a trading vehicle move than one driven by clear fundamentals, with a hawkish Fed posing a headwind.

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