BITCOIN'S 50% DROP IS NOT A CRISIS – IT'S JUST VOLATILITY. 🔻 Bitcoin has just dropped nearly 50% from its peak set just a few months ago, raising concerns about the stability of this asset. However, according to former hedge fund manager Gary Bode, this is simply a familiar consequence of Bitcoin's Capital volatility. 📊 Looking back at history, sharp declines are nothing new. Bitcoin has repeatedly undergone 80-90% corrections before recovering and setting new highs. Bode argues that it is investors patient enough to withstand short-term volatility who will benefit in the long term. Therefore, the current drop, while upsetting and shocking, is consistent with Bitcoin's historical behavior, rather than a signal that the platform is weakening. 🏦 According to Bode, the main reason for the sell-off stemmed from the market misinterpreting monetary policy. The mention of Kevin Warsh as a potential successor to Jerome Powell has been interpreted as a sign that the Federal Reserve (Fed) will pursue a more hawkish stance. Concerns about rising interest rates made non-yielding assets like Bitcoin, gold, and silver less attractive to investors. Coupled with margin calls and profit-taking by large holders, selling pressure quickly spread. 🧠 However, Bode argues that this understanding is incorrect. He cited Warsh's previous statements, which leaned toward a low interest rate stance, as well as hints from Donald Trump that Warsh had committed to pursuing a more accommodative monetary policy. With the US continuously facing trillions of dollars in budget deficits, the Fed effectively has very little room to control long-term interest rates. Therefore, market perception – not fundamental factors – is the primary driver of the price drop. 🐋 Other factors such as whale selling, pressure from Strategy, or the rise of "paper Bitcoin" were also mentioned, but according to Bode, they only have a short-term impact. ETFs and Derivative can increase the supply of traded assets on the market, but they do not change the fixed supply ceiling of 21 million BTC. Similar to the silver market, trading in "paper" assets may temporarily restrain prices, but demand for the underlying asset is the deciding factor in the long term.