Crypto Is Finished. Right?

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Analysis by Alex King, CEO, Cestrian Capital Research, Inc.

Despite the best efforts of Messrs. Saylor, Lee and others, the price of Bitcoin and Ether has been one-way-only since late 2025, and that direction has been, down. And I would hesitate to dissuade anyone of the risks inherent in holding such speculative instruments lest they fall further.

But.

For the first time since May, when Bitcoin was some 30pc higher, it is sitting over its 8-day SMA and 21-day EMA, whilst both moving average lines are pointing upwards not downwards.

Ether is going one further, being over its 50-day SMA for three days now.

This can all break down tomorrow but it is much more bullish than crypto “should” be at present, according to prevailing narrative, so it warrants careful attention.

Disclosure: I am long Ether, no position in Bitcoin.

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