The Ethereum Foundation just announced they're firing 20% of their staff.
In traditional markets, when a company announces layoffs and restructuring the stock pumps almost EVERY SINGLE TIME.
Wall Street sees it as the company getting serious,
Cutting the bloat, reducing overhead, reallocating capital, adopting to the AI age etc.. Microsoft did it, Meta did it, Google did it - and every single one pumped after the announcement.
Now the $ETH Foundation [which has been getting fudded by the community for years over bloated spending, zero direction and questionable leadership],
Finally makes a move that everyone has been begging for years -> and $ETH is down 7% on the week, after what should be one of the only good news this ecosystem has had in months.
This is telling you something very important about WHERE we are in the cycle.
When obviously good news cannot produce a single green candle,
It means sentiment is so far in the depression levels that nobody is even processing information logically anymore.
The traders and institutions who would normally buy this news are either already gone, fully sidelined in stables, or so beaten down that even positive catalysts feel like a trap to them.
That's capitulation on a psychological level, not just a price level. And if you are like me and believe that crypto is here to stay then you should know that historically THAT is where the bottom is starting to form (at least IMO).
If you ask me (PERSONAL opinion) - it's just a matter of time before people realize just how mispriced our industry is compared to any other market in the world.
Kobe's GamblesGrabbing $RIZO here after $ASTEROID sent to 180M The thesis is simple, $ASTEROID is the mascot of Space X and $RIZO is the secret Mascot of Tesla. Both tied to Elon CA: 0x3009B6833f8925b7985C2408c49160dD1aB317CA Chart: https://dexscreener.com/ethereum/…
2x for Hedgehog (RIZO). Posted here days ago. Similar narrative as Asteroid
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