This is the third part of a trilogy discussing a qualitative shift in bitcoin-crypto dynamics. Part 1 is here, and Part 2 is here.
Bitcoin has settled into the $68-72K range since I last published. Any short or long derivative bets outside that range are being aggressively liquidated. This is how Wall Street controls bitcoin without buying or selling any tokens. Since the analysis of the bitcoin market being manipulated by futures trading (linked & discussed in Part 2), bitcoin’s price has settled where reluctant proponents & mild opponents can agree– for now. But this is a war for existence on all sides. Crypto Kool-Aid drinkers still in the game are battling against bitcoin going to zero, which strong opponents (historical materialists) have always insisted upon.
But ‘mild opponents’, also known as centrists & liberals, see it differently– and fundamentally so. Crypto has no legitimate use value, but it has tremendous criminal value. The actual justification for bitcoin (& all other crypto) is its value on the black market. That is where assets of the CIA, MI5, Mossad, etc, operate. For example, Pussy Riot are a known CIA asset, and they coincidentally have been huge crypto proponents, even issuing their own NFT. Al Qaeda terrorists love crypto, and being paid in bitcoin is gold to them because it is anonymous & largely untraceable. Hence bitcoin’s maintenance of price value, despite there being no new buyers in the financial market.
Michael Saylor keeps borrowing to buy more bitcoin as other whales sell. That’s the total current bitcoin market, outside of what is being mined, which is currently ~450 bitcoins/day. Technical note: bitcoin is “halved” every four years so that mining rate decreases the closer it gets to 21 million– bitcoin’s finite limit set by its unknown creator Satoshi Nakamoto. As of early 2026, 19.9M – 20M bitcoins have been mined and are in existence. It’s helpful to know these technical facts when dealing with Kool-Aid drinkers & understanding the bigger picture.
The CIA demands bitcoin be legal & valuable, and that was conceded by the US Supreme Court during the Joe Biden administration in SEC v Grayscale, which was discussed at length on this blog. To review, Grayscale sought to establish an ETF for bitcoin, and the SEC denied the application, arguing (correctly) it lacked sufficient fraud & manipulation protections. But in August 2023, the right-wing Supreme Court ruled in favor of Grayscale, paving the way for crypto to become a stock exchange, thus giving bitcoin (& crypto) the business legitimacy it desperately needed after the stablecoin & FTX collapses a year earlier.
Bitcoin needs to exist at a wildly inflated value because the criminals who run the world depend on it. These are the Jeffery Epstein clients who are being protected by Trump and the FBI which he now controls. This is now a crypto fascist world we are living in, where everything important is decided behind closed doors with no public disclosure, discussion, or criticism allowed. Trump with the tutelage of Elon Musk (from 2022-25) became crypto fascist, because that’s what he needed to do to stay ahead.
Trump tokens on his crypto exchange World Liberty Financial have apparently lost over 96% of their value, which was claimed be $85/token at IPO in January 2025. Currently the Trump token is ~$3.30. Here are two recent screenshots:
Unsurprisingly, there is a total supply of 100 billion [!!] Trump tokens, already minted & available for purchase, which illustrates fascist greed & ignorance causing faster crypto de-valuation. That’s the inherent rot eating crypto fascism from the inside. Of course there are outside forces too, such as traditional finance on one side & mass worker organization with strike action on the other. Crypto is caught in a Mexican stand-off, and will be the first killed, crushed between the millstones of economic laws & historical truth.
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