Comments:

Bitcoin has been left for dead since peaking at $127,240 on October 6, 2025. The respective peak for Grayscale Bitcoin ETF (BTC) was $55.96. With the shares currently sitting more than 50% below the 2025 peak, you may be tempted to hand them over to the undertaker. Don’t.

Instead, this may be the time to start nibbling, since prices are sitting near an area where bounces occurred on several occasions over the past two years.

But buyer beware, because there is always a possibility that bitcoin could potentially retrace most or all of ck to $500 or so over the next few weeks would make a 35% discount will look like a superb deal. And it definitely can be for a nimble investor. 

Just don’t fall in love with the SNDK, because we believe the shares will likely enjoy one last rally to $685 or so over the next few months, before the Head and Shoulders Top resolves itself to the downside. And then it will be Look Out Below.

Our ultimate downside target for SNDK is $257.