The "digital gold" narrative is dead. Here's what's really moving Bitcoin.

Bitcoin is down to $88,000. It's given up nearly all of its 2026 gains. And if you're looking at on-chain metrics, whale wallets, or ETF flows for answers, you're looking in the wrong place.

This wasn't a crypto crash. It was an execution.

The Real Story: A Six Sigma Event in Tokyo

On Tuesday, something broke in Japan's bond market. U.S. Treasury Secretary Scott Bessent, speaking at Davos, called it a "six standard deviation move" — the kind of thing that isn't supposed to happen in a functioning