To put things in perspective...
The Amazon $AMZN CAPEX estimates ($200B for 2026) aren’t even on the screen on the Bloomberg GF page yet… Source: Bloomberg, RBC
At yesterday's low of $60k, bitcoin was down over 52% from its October 2025 peak.
This was its 9th 50+% decline off an all-time high since it began trading on exchanges back in 2010. $BTC Source: Charlie Bilello
Over 9.3M Bitcoins are underwater, the highest supply in loss since January 2023, per Glassnode.
Source: www.cointelegraph.com
Bitcoin Returns since 2010...
Source: Charlie Bilello
The economy is K-shaped. Premium spending remains strong while economy spending falls
Source: Blackstone investment outlook
Will the Nasdaq see the same pattern we saw from Nov ’24 into the Feb ’25 selloff???
This time, we consolidated since last November, and suddenly things look ugly again. Last year’s real puke began when NASDAQ broke the 100-day MA. We’re seeing that exact break today. Source: The Market Ear
Alphabet is going to be spending more than the capex of:
ExxonMobil, Chevron, BP, Shell, TotalEnergies, Equinor, Eni, Antero Resources, APA Corporation, ConocoPhillips, Expand Energy, Continental Resources, Coterra Energy, Devon Energy, EOG Resources, EQT Corporation, Diamondback Energy, Occidental Petroleum, Range Resources, Permian Resources, Imperial Oil, Cenovus Energy, Canadian Natural Resources, Ovintiv, Suncor Energy, Tourmaline Oil COMBINED! Can the US grid support these projections ??? Source: The Crude Chronicles, Bloomberg
They used to be the same...
Imagine if $BTC still carries some of that aggregate investor psychology... The gap vs NASDAQ remains absolutely huge. Source: TME
