Swan Signal Live - A Bitcoin Show Bitcoin Cycles Are Breaking: The Fed’s “Not-QE” QE + Institutional Floor at $90k?
Dec 12, 2025
Bitcoin's price fluctuates around $90k, prompting a discussion on the impact of institutional buyers dampening traditional boom/bust cycles. Insights into an elongated market cycle suggest future price targets could hit $150k-$200k. The Fed's 'not-QE' actions spark debates on monetary policy and its implications. Meanwhile, BitGo's national trust bank approval highlights advances in digital asset custody. The show reflects on Do Kwon's sentencing and Bitcoin's unique leaderless structure, emphasizing its resilience against scams.
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Wall Street Sees A Longer, Bigger Bull Run
- Bernstein (via Matthew Sigel) sees an elongated bull with sticky institutional buying and modest ETF outflows during a 30% correction.
- They project $150K in 2026 and a possible 2027 peak at $200K with long-term seven-figure targets by 2033.
Gold And Bitcoin Can Rotate In Debasement Trades
- Gold and Bitcoin can both benefit from long 'debasement trade' cycles, but gold's history makes its cycles longer and clearer.
- John says Bitcoin is in early innings of adoption, so it may rotate differently versus gold over decades.
The Fed's 'Gradual Print' Feeds Bitcoin Tailwinds
- The Fed's new 'reserve management purchases' of T-bills are balance-sheet expansion that functions as QE by another name.
- John calls it the 'gradual print' and says this structural liquidity tailwind supports Bitcoin over time.
