Oil is above $100. Treasury yields are approaching 5%. Fed hike expectations are rising. Yet BTC is still fighting to hold its ground. So I’m asking a different question: How much macro pressure can Bitcoin absorb before we have to admit the bullish thesis is wrong? And if it absorbs all of this without making a major new low… would that be weakness, or one of the strongest signs of underlying demand? 👀₿ I want the analysts’ thesis, not the prediction.