He added: “MSTR is slipping, gold is sending a warning, as are credit markets, and stocks will be the last to get the message… I want to see how $BTC responds to $100K, but will likely get interested in the market again when I see $BTC $75K or lower.” The post had 50.2K views at the time referenced.
Burniske’s remarks follow the October 10 selloff that knocked Bitcoin as low as the mid-$100Ks in intraday trade and triggered the sharpest reset of leverage ever for the crypto market. Market tone through this week underscores his “broke the bid” framing. By Friday morning in Europe, Bitcoin was changing hands below $106,000 again, leaving it roughly 15% below its month-to-date peak and dragging the total crypto market capitalization under $3.6 trillion.
Burniske replied, “Excellent breakdown, thank you for sharing.” Another commenter, Magumsy, pushed back that calling the event “breaking crypto” was “overblown,” citing “on-chain flows and institutional liquidity” as buffers; Burniske clarified that he meant it “broke a lot of peoples’, or institutions’, appetites to bid.”
Asked about altcoins if a bear market starts here, he answered bluntly: “Depends on the alt, some are bottomless — imo it’s time to consolidate into your highest conviction names + USD, or at least that’s what I’ve done.”
Whether Bitcoin needs to revisit the mid-$70Ks to entice sidelined capital is now the crux of positioning. Burniske’s tactical map—watch behavior “at $100K” and get “interested… at $75K or lower”—implies a broad re-rating of risk premia after a cycle that, in his words, “was different,” with the next bear “different too.”
At press time, Bitcoin traded at $104,809.
