SIKANIBAIMA

Since its creation in 2017 , BNB has evolved from the simple a utulity exchange token to a strategic asset at the heart of the global crypto ecosystem. Backed by Binance the world’s largest exchange by volume. BNB now represents much more than a way to reduce trading fees. Throug the analysis of monthly quarterly , and weekly charts , combined with the study of tokenomics , geopolitics, and the global macroeconomic context , one thing is clear. BNB is hybrid asset at the crossroads of traditional and finance , blockchain innovation, and international Power dynamics . Understanding BNB means Understanding the structural transformation of the crypto industrielle.

Looking at the long-terms charts , the primary trend remain bullish despite a significant correction from the all-time high of $1,414 . The price is currently trading around $612 , approximately 55% below its historical peak . Howerer , this correction does not call into question the macro structure as long as the major support level $200 holds. This level represents a strategic pivot : it marks both a previous cycle peak and an area of institutional accumulation .

Thus, technical, BNB is in a compression phase below its all-time high. This configuration generally reflect a period of equilibrium between profit-taking and accumulation in anticipation of the ́next cycle.
But technical analysis alone is not enough to explain the asset’s resilience. For that , we must examine its internal economics
Unlike many speculative tokens, BNB is based on concrete economic model. Binance regularly implement burn mechanisms aimed at reducing the total supply to 100 million token .

This dynamic introduces a deflationary logic directly correlated to the platform’s revenue. In other words , the more activity Binance generates , the more BNB supply decreases. This mechanism creates a unique bridge between entreprize performance and tokenized valuation . BNB acts almost as an indirect action on the Binance ecosystem while maintaining strong operational utulity :
*Reduces fees
*Participation in lauchpads
*Fees on BNB Smart Chain
*Staking
*DeFi collateral
This multificated utulity strengthens structural demand . Howerer , it cannot be fully understood without analyzing the infrastructure support it ́.

BNB Smart Chain ( BSC) established itself as a fast and low-cost alternative to ETHEREUM during the 2021 cycle . EVM-compatible , it attracted a massive amount of retail DeFi users thanks to reduced fees and smooth execution. Today its role is evolving. It remain a major hub for projects focused on émergent markets , Asia , and the Middle east. However , its more centralized model compared to the Ethereum’s is the subject of recurring debate. This relative centralization is both a strength ( speed of adaption) and a weakness ( increased regulatory risk). This naturally leads us to the geopolitical dimension of BNB.

BNB is intrinsically linked to Binance . Binance has become a systemic player in the crypto sector, which exposes it directly to international regulation . Recent years have been marked by significant regulatory pressures , particularly in the United States (USA) as well as fines and a strategic repositioning of governance . Yet despite this turbulence , Binance maintains significant dominance in global volume. This adaptability illustrates the platform’s founding ideology :
*speed of execution
*aggressive innovation
*global expansion before regulatory normalization.
Thus , BNB incorporation a permanent geopolitical risk premium . Its price reflects both the dynamics of the crypto market and Binance’s institutional stability. But beyond regulation, a broader factor influences its evolution : the global macroeconomy.
Like all digital asset , BNB fluctuates in line with international liquidity cycles . US monetary policies , institutional flows into Bitcoin , and phases of global credit expansion or contraction play a crucial role . Historically , periods of monetary easing and increased global liquidity favor riskier asset . BNB thus bénéfice from a dual effect : a general rise in the crypto market and increased trading volume on Binance
Conversely , periods of monetary tightening amplify volatility and test structural support levels particularly the key $200 zone

Ultimately , BNB isn’t just an "exachange token" used to play lower fees . It’s far more complex asset , situated at the intersection of several worlds. On one hand, it’s based on real economic logic a deflationary mechanisme fueled by the revenues of one the world’s largest crypto platforms. On the other , it functions as the fuel for an active blockchain used by thousand of projects and users.
But BNB doesn’t operate in a vacuum . It’s exposed to regulatory decisions , geopolitical tensions, and major global economic dynamics. When global liquidity increases , it thrives . When it contract , it absorbs the pressure . When Binance adapts , it strengthens. When it’s under pressure , it falters .
Technically , its Long-Term Structure structure remains solid as long as the major levels hold . Fundamentally , its future will depend primarily on two simple yet powerful things Binaces’s ability to navigate an increasingly stringent regulatory landscape, and the overall state of liquidity in the markets
BNB actually represents something broader the transformation of crypto we ́’re moving from an expérimental and marginal universe to an increasingly institutional monitored and regulated, but also more mature, system .
UNDERSTANDING BNB ISN’T JUST ABOUT ANALYZING A CHART.
It’s about observing how innovation, finance and polictics intertwine in the real world and perhaps that’s where its True value lies

#Binance @BNB Chain #Write2Earn

What if the real challenge of the Internet… is trust?

From the first ARPANET cables to the blockchain, one question persists:How can we trust in a faceless digital world?
1969 – ARPANET: the first message between computers.
➡️ The Internet is born, but remains a network reserved for experts.
1991 – Web 1.0: read-only.
Static websites, no interaction. A vast library.
Trust? Not yet an issue.
2004 – Web 2.0: we read and write.Explosion of social networks, e-commerce, collaborative tools… But also: centralization, massive data collection, manipulation.The crisis of trust is here.
2008 – Financial crisis. 2009 – Bitcoin. An unknown person named Satoshi Nakamoto publishes a 9-page PDF.
➡️ The birth of blockchain: a system without intermediaries,where trust is replaced by verification.
Blockchain is:
✅ Public, secure, tamper-proof ledgers
✅ Transactions without a central authority
✅ Truth guaranteed by the network itself
"Don't trust, verify."
Web 3.0: the Internet of ownership, resilience, and transparency.
Based on:
• Blockchain
• Cryptocurrencies
• Decentralized digital identities
• Smart contracts and NFTs

Users finally regain total control over their identity, their data, and their digital assets.

The internet was the tree. Blockchain is the root.
One connects. The other protects. Together, they redefine trust.

By Sikanibaima – For an enlightened, free people, masters of their tools.

𝘊𝘦 𝘯’𝘦𝘴𝘵 𝘯𝘪 𝘉𝘪𝘯𝘢𝘯𝘤𝘦.
𝘊𝘦 𝘯’𝘦𝘴𝘵 𝘯𝘪 𝘭𝘦𝘴 𝘵𝘳𝘢𝘥𝘦𝘳𝘴.
𝘊𝘦 𝘯’𝘦𝘴𝘵 𝘯𝘪 𝘭𝘦𝘴 𝘪𝘯𝘧𝘭𝘶𝘦𝘯𝘤𝘦𝘶𝘳𝘴.

𝘊’𝘦𝘴𝘵 𝘭𝘢 𝐁𝐚𝐧𝐪𝐮𝐞 𝐂𝐞𝐧𝐭𝐫𝐚𝐥𝐞.

𝐸𝑡 𝑒𝑙𝑙𝑒 𝑎 𝑈𝑁𝐸 𝑎𝑟𝑚𝑒 𝑝𝑟𝑖𝑛𝑐𝑖𝑝𝑎𝑙𝑒 𝑳𝒆𝒔 𝒕𝒂𝒖𝒙 𝒅𝒊𝒓𝒆𝒄𝒕𝒆𝒖𝒓𝒔

🔴 𝚀𝚄𝙰𝙽𝙳 𝙻𝙰 𝙱𝙰𝙽𝚀𝚄𝙴 𝙲𝙴𝙽𝚃𝚁𝙰𝙻𝙴 𝙰𝚄𝙶𝙼𝙴𝙽𝚃𝙴 𝙻𝙴𝚂 𝚃𝙰𝚄𝚇

➡️ 𝙻𝚎𝚜 𝚋𝚊𝚗𝚚𝚞𝚎𝚜 𝚌𝚘𝚖𝚖𝚎𝚛𝚌𝚒𝚊𝚕𝚎𝚜 𝚊𝚞𝚐𝚖𝚎𝚗𝚝𝚎𝚗𝚝 𝚕𝚎𝚜 𝚝𝚊𝚞𝚡 𝚍𝚎𝚜 𝚙𝚛𝚎𝚝𝚜
➡️ 𝙻𝚎𝚜 𝚌𝚛𝚎𝚍𝚒𝚝𝚜 𝚍𝚎𝚟𝚒𝚎𝚗𝚗𝚎𝚗𝚝 𝚌𝚑𝚎𝚛𝚜
➡️ 𝙻𝚎𝚜 𝚐𝚎𝚗𝚜 𝚎𝚖𝚙𝚛𝚞𝚗𝚝𝚎𝚗𝚝 𝚖𝚘𝚒𝚗𝚜
➡️ 𝙸𝚕𝚜 𝚎𝚙𝚊𝚛𝚐𝚗𝚎𝚗𝚝 𝚙𝚕𝚞𝚜
➡️ 𝙻𝚊 𝚍𝚎𝚖𝚊𝚗𝚍𝚎 𝚋𝚊𝚒𝚜𝚜𝚎
➡️ 𝙻’𝚎𝚌𝚘𝚗𝚘𝚖𝚒𝚎 𝚛𝚊𝚕𝚎𝚗𝚝𝚒𝚝
➡️ 🔥 𝙻’𝚒𝚗𝚏𝚕𝚊𝚝𝚒𝚘𝚗 𝚍𝚒𝚖𝚒𝚗𝚞𝚎

𝙾𝚋𝚓𝚎𝚌𝚝𝚒𝚏 : 𝚌𝚊𝚕𝚖𝚎𝚛 𝚕𝚊 𝚜𝚞𝚛𝚌𝚑𝚊𝚞𝚏𝚏𝚎.

𝙲’𝚎𝚜𝚝 𝚌𝚘𝚖𝚖𝚎 𝚛𝚎𝚝𝚒𝚛𝚎𝚛 𝚍𝚞 𝚌𝚊𝚛𝚋𝚞𝚛𝚊𝚗𝚝 𝚍’𝚞𝚗 𝚖𝚘𝚝𝚎𝚞𝚛 𝚝𝚛𝚘𝚙 𝚌𝚑𝚊𝚞𝚍.

🟢 𝚀𝚄𝙰𝙽𝙳 𝙻𝙰 𝙱𝙰𝙽𝚀𝚄𝙴 𝙲𝙴𝙽𝚃𝚁𝙰𝙻𝙴 𝙱𝙰𝙸𝚂𝚂𝙴 𝙻𝙴𝚂 𝚃𝙰𝚄𝚇

➡️ 𝙻𝚎𝚜 𝚋𝚊𝚗𝚚𝚞𝚎𝚜 𝚙𝚛𝚎𝚝𝚎𝚗𝚝 𝚖𝚘𝚒𝚗𝚜 𝚌𝚑𝚎𝚛
➡️ 𝙻𝚎𝚜 𝚌𝚛𝚎𝚍𝚒𝚝𝚜 𝚍𝚎𝚟𝚒𝚎𝚗𝚗𝚎𝚗𝚝 𝚊𝚌𝚌𝚎𝚜𝚜𝚒𝚋𝚕𝚎𝚜
➡️ 𝙻𝚎𝚜 𝚐𝚎𝚗𝚜 𝚎𝚖𝚙𝚛𝚞𝚗𝚝𝚎𝚗𝚝 𝚙𝚕𝚞𝚜
➡️ 𝙸𝚕𝚜 𝚍𝚎𝚙𝚎𝚗𝚜𝚎𝚗𝚝 𝚍𝚊𝚟𝚊𝚗𝚝𝚊𝚐𝚎
➡️ 𝙻𝚊 𝚍𝚎𝚖𝚊𝚗𝚍𝚎 𝚊𝚞𝚐𝚖𝚎𝚗𝚝𝚎
➡️ 𝙻’𝚎𝚌𝚘𝚗𝚘𝚖𝚒𝚎 𝚊𝚌𝚌𝚎𝚕𝚎𝚛𝚎
➡️ 📈 𝙻’𝚒𝚗𝚏𝚕𝚊𝚝𝚒𝚘𝚗 𝚊𝚞𝚐𝚖𝚎𝚗𝚝𝚎

𝙾𝚋𝚓𝚎𝚌𝚝𝚒𝚏 : 𝚛𝚎𝚕𝚊𝚗𝚌𝚎𝚛 𝚕𝚊 𝚖𝚊𝚌𝚑𝚒𝚗𝚎.

𝙲’𝚎𝚜𝚝 𝚌𝚘𝚖𝚖𝚎 𝚒𝚗𝚓𝚎𝚌𝚝𝚎𝚛 𝚍𝚞 𝚌𝚊𝚛𝚋𝚞𝚛𝚊𝚗𝚝 𝚍𝚊𝚗𝚜 𝚞𝚗 𝚖𝚘𝚝𝚎𝚞𝚛 𝚎𝚗 𝚙𝚊𝚗𝚗𝚎.

𝙲𝙴 𝚀𝚄𝙴 90% 𝙳𝙴𝚂 𝙶𝙴𝙽𝚂 𝙽𝙴 𝙲𝙾𝙼𝙿𝚁𝙴𝙽𝙽𝙴𝙽𝚃 𝙿𝙰𝚂

𝙻𝚎𝚜 𝚖𝚊𝚛𝚌𝚑𝚎𝚜 𝚌𝚛𝚢𝚙𝚝𝚘
𝙻𝚎𝚜 𝚖𝚊𝚛𝚌𝚑𝚎𝚜 𝚋𝚘𝚞𝚛𝚜𝚒𝚎𝚛𝚜
𝙻’𝚒𝚖𝚖𝚘𝚋𝚒𝚕𝚒𝚎𝚛
𝙻𝚎 𝚍𝚘𝚕𝚕𝚊𝚛
𝙻𝚎 𝙲𝙵𝙰

𝚃𝚘𝚞𝚝 𝚛𝚎𝚊𝚐𝚒𝚝 𝚊𝚞𝚡 𝚍𝚎𝚌𝚒𝚜𝚒𝚘𝚗𝚜 𝚍𝚎𝚜 𝚋𝚊𝚗𝚚𝚞𝚎𝚜 𝚌𝚎𝚗𝚝𝚛𝚊𝚕𝚎𝚜.

𝚀𝚞𝚊𝚗𝚍 𝚕𝚎𝚜 𝚝𝚊𝚞𝚡 𝚖𝚘𝚗𝚝𝚎𝚗𝚝 :
𝙻’𝚊𝚛𝚐𝚎𝚗𝚝 𝚍𝚎𝚟𝚒𝚎𝚗𝚝 𝚛𝚊𝚛𝚎.
𝙻𝚎𝚜 𝚊𝚌𝚝𝚒𝚏𝚜 𝚛𝚒𝚜𝚚𝚞𝚎𝚜 𝚌𝚑𝚞𝚝𝚎𝚗𝚝.

𝚀𝚞𝚊𝚗𝚍 𝚕𝚎𝚜 𝚝𝚊𝚞𝚡 𝚋𝚊𝚒𝚜𝚜𝚎𝚗𝚝 :
𝙻’𝚊𝚛𝚐𝚎𝚗𝚝 𝚌𝚒𝚛𝚌𝚞𝚕𝚎.
𝙻𝚎𝚜 𝚊𝚌𝚝𝚒𝚏𝚜 𝚎𝚡𝚙𝚕𝚘𝚜𝚎𝚗𝚝.

𝚂𝚒 𝚝𝚞 𝚟𝚎𝚞𝚡 𝚍𝚘𝚖𝚒𝚗𝚎𝚛 𝚕𝚎𝚜 𝚖𝚊𝚛𝚌𝚑𝚎𝚜 𝚎𝚗 2026…

𝙽𝚎 𝚛𝚎𝚐𝚊𝚛𝚍𝚎 𝚙𝚊𝚜 𝚜𝚎𝚞𝚕𝚎𝚖𝚎𝚗𝚝 𝚕𝚎𝚜 𝚐𝚛𝚊𝚙𝚑𝚒𝚚𝚞𝚎𝚜.

𝚁𝚎𝚐𝚊𝚛𝚍𝚎 :

* 𝙻𝚎𝚜 𝚍𝚎𝚌𝚒𝚜𝚒𝚘𝚗𝚜 𝚍𝚎 𝚕𝚊 𝙱𝚊𝚗𝚚𝚞𝚎 𝙲𝚎𝚗𝚝𝚛𝚊𝚕𝚎
* 𝙻𝚎𝚜 𝚊𝚗𝚗𝚘𝚗𝚌𝚎𝚜 𝚍𝚎 𝚙𝚘𝚕𝚒𝚝𝚒𝚚𝚞𝚎 𝚖𝚘𝚗𝚎𝚝𝚊𝚒𝚛𝚎
* 𝙻𝚎𝚜 𝚌𝚢𝚌𝚕𝚎𝚜 𝚎𝚌𝚘𝚗𝚘𝚖𝚒𝚚𝚞𝚎𝚜

𝙻𝚎𝚜 𝚛𝚒𝚌𝚑𝚎𝚜 𝚜𝚞𝚒𝚟𝚎𝚗𝚝 𝚕𝚊 𝚕𝚒𝚚𝚞𝚒𝚍𝚒𝚝𝚎.
𝙻𝚎𝚜 𝚙𝚊𝚞𝚟𝚛𝚎𝚜 𝚜𝚞𝚒𝚟𝚎𝚗𝚝 𝚕𝚎𝚜 𝚎𝚖𝚘𝚝𝚒𝚘𝚗𝚜.

𝚃𝚘𝚒, 𝚝𝚞 𝚌𝚑𝚘𝚒𝚜𝚒𝚜 𝚚𝚞𝚎𝚕 𝚌𝚊𝚖𝚙 ?

𝚂𝚒 𝚌𝚎 𝚐𝚎𝚗𝚛𝚎 𝚍𝚎 𝚍𝚎𝚌𝚛𝚢𝚙𝚝𝚊𝚐𝚎 𝚜𝚝𝚛𝚊𝚝𝚎𝚐𝚒𝚚𝚞𝚎 𝚝’𝚊𝚒𝚍𝚎,
𝙿𝚊𝚛𝚝𝚊𝚐𝚎 𝚊 𝚚𝚞𝚎𝚕𝚚𝚞’𝚞𝚗 𝚚𝚞𝚒 𝚍𝚘𝚒𝚝 𝚌𝚘𝚖𝚙𝚛𝚎𝚗𝚍𝚛𝚎 𝚌𝚊 𝚊𝚞𝚓𝚘𝚞𝚛𝚍’𝚑𝚞𝚒

Dak | Sikanibaima

Il y'a beaucoup d'idées arrêtées sur l'investissement en cryptomonnaie.

Beaucoup de gens répètent les mêmes erreurs car ils n'ont simplement pas conscience qu'elles en sont.

10 opinions sur l'investissement en crypto selon Yrile:

🧶👇

1️⃣• Vendre est beaucoup plus dur qu'acheter :

Acheter une crypto est simple.

On est bercé par un biais haussier, et on assouvit parfois une sensation de FOMO.

Vendre est beaucoup plus compliqué, puisqu'une vente optimale se fait quand tout est vert, ce qui n'est pas intuitif.

2️⃣• En Bullrun, attention + narratif > fondamentaux :

Les afflux de liquidités se déversent dans des secteurs, qu'on appelle des narratifs.

Il est connu qu'il faut suivre la liquidité, et elle ne se trouve pas forcément dans les projets aux meilleurs fondamentaux.

3️⃣• Vendre pour racheter n'est pas une bonne idée :

En bullrun, le risk/reward de vendre ses jetons pour racheter lors d'une baisse est très faible.

Vous vous exposez à des erreurs supplémentaires, et à tout racheter si vous voyez que le marché remonte trop.

4️⃣• Autant Hold les leaders que les projet mid cap :

On a tendance à croire qu'il faut aller chercher LA pépite qui fera toute la différence.

Pour 99% des gens, identifier les meilleurs narratifs, et acheter les leaders leur sera largement profitable.

5️⃣• Les Airdrops sont mauvais pour l'écosystème :

Une opinion à nuancer car cela dépend de la tournure du Airdrop.

Mais certains ressemblent beaucoup plus à du Liquidity Mining caché qu'à une volonté d'allocation dans un but de distribution et de récompense des investisseurs.

6️⃣• La plupart des gens se diversifient beaucoup trop :

- de $10k : 15 Cryptos maximum

- de $50k : 25 Cryptos grand maximum

Trop de gens se diversifient trop et diluent la valeur de leurs connaissances et leurs expertises dans les projets qu'ils détiennent.

7️⃣• Vous devriez vendre immédiatement après avoir pris un screenshot de vos gains

Quand vous l'envoyez à votre pote pour lui montrer votre bag, c'est le moment de prendre des profits.

"If it's good enough to brag about, it's good enough to sell."

8️⃣• IA et depin vont être les plus gros narratifs de ce bullrun :

Et avoir une maitrise de ce secteur uniquement pourrait être plus profitable que s'intéresser à tous les narratifs différents

NFA

9️⃣• Un bullrun est beaucoup plus dur mentalement qu'un Bear market :

Bruit, gestion d'émotions, fluctuations ..

Entourez vous proprement et prenez soin de votre santé mentale, elle peut être très challengée en bullrun.

🔟•La plupart des investisseurs vont rater leur prise de profit de ce bullrun :

Je pense qu'il y aura plus de monde qui réussira à trouver un x10, que de monde qui arrivera à sortir proprement du marché pour en dégager des bons profits.

La prise de profit est très importante.

𝙸𝙻𝚂 𝚅𝙴𝙽𝙳𝙴𝙽𝚃. 𝚃𝙾𝙸, 𝚃𝚄 𝙳𝙾𝚄𝚃𝙴𝚂 𝙴𝙽𝙲𝙾𝚁𝙴 ?
𝚁𝚎𝚐𝚊𝚛𝚍𝚎 𝚋𝚒𝚎𝚗 𝚌𝚎𝚝𝚝𝚎 𝚒𝚖𝚊𝚐𝚎

𝙲𝚎 𝚗’𝚎𝚜𝚝 𝚙𝚊𝚜 𝚞𝚗 𝚜𝚒𝚖𝚙𝚕𝚎 𝚐𝚛𝚊𝚙𝚑𝚒𝚚𝚞𝚎.
𝙲’𝚎𝚜𝚝 𝚞𝚗 𝚜𝚒𝚐𝚗𝚊𝚕 𝚐𝚎𝚘𝚙𝚘𝚕𝚒𝚝𝚒𝚚𝚞𝚎 𝚖𝚊𝚓𝚎𝚞𝚛.

𝙻𝚎𝚜 𝚙𝚕𝚞𝚜 𝚐𝚛𝚊𝚗𝚍𝚜 𝚍𝚎𝚝𝚎𝚗𝚝𝚎𝚞𝚛𝚜 𝚍𝚎 𝚕𝚊 𝚍𝚎𝚝𝚝𝚎 𝚊𝚖𝚎𝚛𝚒𝚌𝚊𝚒𝚗𝚎 𝚜𝚘𝚗𝚝 𝚊 𝚕𝚎𝚞𝚛 𝚗𝚒𝚟𝚎𝚊𝚞 𝚕𝚎 𝚙𝚕𝚞𝚜 𝚋𝚊𝚜 𝚍𝚎𝚙𝚞𝚒𝚜 2008.

🇯🇵 𝙹𝚊𝚙𝚘𝚗
🇬🇧 𝚁𝚘𝚢𝚊𝚞𝚖𝚎-𝚄𝚗𝚒
🇨🇳 𝙲𝚑𝚒𝚗𝚎
🇧🇪 𝙱𝚎𝚕𝚐𝚒𝚚𝚞𝚎
🇨🇦 𝙲𝚊𝚗𝚊𝚍𝚊

𝙴𝚗 𝚋𝚊𝚜 𝚍𝚎 𝚕’𝚒𝚖𝚊𝚐𝚎, 𝚞𝚗𝚎 𝚍𝚊𝚝𝚎 𝚊𝚝𝚝𝚒𝚛𝚎 𝚕’𝚊𝚝𝚝𝚎𝚗𝚝𝚒𝚘𝚗 : 2026.
𝙲𝚎 𝚗’𝚎𝚜𝚝 𝚙𝚊𝚜 𝚞𝚗𝚎 𝚙𝚛𝚘𝚙𝚑𝚎𝚝𝚒𝚎.
𝙲’𝚎𝚜𝚝 𝚞𝚗 𝚌𝚢𝚌𝚕𝚎 𝚎𝚌𝚘𝚗𝚘𝚖𝚒𝚚𝚞𝚎.

➡️ 𝙳𝚎𝚝𝚝𝚎 𝚎𝚡𝚌𝚎𝚜𝚜𝚒𝚟𝚎
➡️ 𝙸𝚖𝚙𝚛𝚎𝚜𝚜𝚒𝚘𝚗 𝚖𝚘𝚗𝚎𝚝𝚊𝚒𝚛𝚎
➡️ 𝙿𝚎𝚛𝚝𝚎 𝚍𝚎 𝚌𝚘𝚗𝚏𝚒𝚊𝚗𝚌𝚎
➡️ 𝙲𝚛𝚒𝚜𝚎𝚜 𝚛𝚎𝚙𝚎𝚝𝚎𝚎𝚜

𝙴𝚝 𝚊 𝚌𝚑𝚊𝚚𝚞𝚎 𝚏𝚘𝚒𝚜 𝚚𝚞𝚎 𝚕𝚊 𝚌𝚘𝚗𝚏𝚒𝚊𝚗𝚌𝚎 𝚍𝚒𝚜𝚙𝚊𝚛𝚊𝚒𝚝,
𝚕𝚎𝚜 𝚙𝚎𝚞𝚙𝚕𝚎𝚜 𝚌𝚑𝚎𝚛𝚌𝚑𝚎𝚗𝚝 𝚞𝚗𝚎 𝚊𝚕𝚝𝚎𝚛𝚗𝚊𝚝𝚒𝚟𝚎.𝙲𝚎𝚝𝚝𝚎 𝚜𝚘𝚛𝚝𝚒𝚎, 𝚌’𝚎𝚜𝚝 𝚕𝚊 𝚌𝚛𝚢𝚙𝚝𝚘.
𝙿𝚊𝚜 𝚍𝚎𝚖𝚊𝚒𝚗.
𝙿𝚊𝚜 𝚚𝚞𝚊𝚗𝚍 𝚝𝚘𝚞𝚝 𝚕𝚎 𝚖𝚘𝚗𝚍𝚎 𝚎𝚗 𝚙𝚊𝚛𝚕𝚎𝚛𝚊.
𝙼𝚊𝚒𝚜 𝚖𝚊𝚒𝚗𝚝𝚎𝚗𝚊𝚗𝚝.

𝑳𝒂 𝒒𝒖𝒆𝒔𝒕𝒊𝒐𝒏 𝒏’𝒆𝒔𝒕 𝒑𝒂𝒔 :
“𝑬𝒔𝒕-𝒄𝒆 𝒒𝒖𝒆 𝒍𝒂 𝒄𝒓𝒚𝒑𝒕𝒐 𝒗𝒂 𝒅𝒖𝒓𝒆𝒓 ?”

𝑳𝒂 𝒗𝒓𝒂𝒊𝒆 𝒒𝒖𝒆𝒔𝒕𝒊𝒐𝒏 𝒆𝒔𝒕 :
“𝑺𝒆𝒓𝒂𝒔-𝒕𝒖 𝒑𝒓𝒆𝒕 𝒒𝒖𝒂𝒏𝒅 𝒍𝒆 𝒔𝒚𝒔𝒕𝒆𝒎𝒆 𝒄𝒉𝒂𝒏𝒈𝒆𝒓𝒂 ?”

𝑳𝒆 𝒇𝒖𝒕𝒖𝒓 𝒂𝒑𝒑𝒂𝒓𝒕𝒊𝒆𝒏𝒕 𝒂 𝒄𝒆𝒖𝒙 𝒒𝒖𝒊 𝒍𝒊𝒔𝒆𝒏𝒕 𝒍𝒆𝒔 𝒔𝒊𝒈𝒏𝒂𝒖𝒙.

— 𝑺𝒊𝒌𝒂𝒏𝒊𝒃𝒂𝒊𝒎𝒂
#𝑮𝒆𝒐𝒑𝒐𝒍𝒊𝒕𝒊𝒒𝒖𝒆 #𝑪𝒓𝒚𝒑𝒕𝒐 #𝑩𝒊𝒕𝒄𝒐𝒊𝒏 #𝑫𝒆𝒕𝒕𝒆𝑴𝒐𝒏𝒅𝒊𝒂𝒍𝒆 #𝑨𝒇𝒓𝒊𝒒𝒖𝒆 #𝑺𝒐𝒖𝒗𝒆𝒓𝒂𝒊𝒏𝒆𝒕𝒆𝑭𝒊𝒏𝒂𝒏𝒄𝒊𝒆𝒓𝒆

A Golden Gap

At the end of last week, the price of gold took a spectacular tumble, dropping from $5,600 to $4,800 per ounce in just a few hours. Behind this sharp fall was the appointment of a new head of the US Federal Reserve, who we are told will not be as "flexible" as gold holders had hoped.

Which leads me to make a few observations.
In January 2026, the price of gold rose by 12.8% in a single month, which is good, and over the last 12 months, it has climbed by 80%, which is even better.

In technical terms, gold was therefore massively "overbought," a polite way of saying that many people had made a lot of money very quickly, often by borrowing dollars or yen, and that a sharp drop was therefore to be expected. We're right in the middle of it, and the question is: does the high reached by gold last Wednesday represent a high for this cycle, or is it just a pause to refresh the market?

To answer this question, I'll quickly review the tools I use to judge when to hold gold—or not.
First question: Does gold outperform cash in dollars? Let's find out.

(Continued on the UDE website or tomorrow on the Institut des Libertés website)

When we see an asset like silver lose nearly 30% in a single session, the natural reaction is to look for a fundamental cause. Yet, what happened recently shows that we are reliving the lessons of the past. What we observed was primarily a structural failure, a moment when the internal workings of the financial markets took over because, as with the Hunt brothers, the rules of the game changed mid-play.

⚠️ We must start with a key point that many underestimate: the global benchmark price for silver is determined by futures contracts traded on the COMEX within the CME Group. On these markets, you don't pay the full value of the metal you control. You deposit collateral, which allows you to use leverage. This system is at the heart of the liquidity of modern markets, but it is also their main point of vulnerability. As long as margin rules remain stable and volatility is contained, leverage acts as a performance amplifier, but as soon as the rules change, that same leverage becomes a stress amplifier.

📈 In mid-January, Sovanna_Sek and his associate warned investors of an initial rule change: the CME decided to switch from a fixed dollar margin system to a system where margin is expressed as a percentage of the contract value. In simpler terms, this means that the higher the price of silver rises, the higher the collateral required to maintain a position becomes. Following this, a second decision was made: faced with volatility, the CME repeatedly raised the required margin percentage. The result is a situation where, within a few days, the capital needed to maintain a long position in silver increases sharply, even without the price moving.

🤷‍♂️ Thousands of traders, funds, and trading desks had built long positions with a certain level of collateral in accordance with the previous rules. Overnight, these same positions become insufficiently hedged. As a result, brokers send margin calls, saying, "Either you provide additional cash or you reduce or close your positions." In an already strained environment, not everyone has unlimited liquidity. Many have no choice but to sell. These sales drive the price down, further worsening the situation for the most vulnerable accounts. New margin calls are triggered, and more sales follow, creating a self-perpetuating cycle because the lower the price falls, the more selling is forced.

🇨🇳 Furthermore, direct access to Western futures and ETF markets is not as straightforward for Chinese investors. A significant portion of their silver exposure is therefore channeled through domestic products, notably a futures fund operated with UBS, which has become a central vehicle for gaining exposure to the metal over the months. However, local demand for silver exploded, and the supply of investment products capable of absorbing this demand remained limited. As a result, this fund began trading far above the value of its assets, with premiums of up to 40%. In other words, investors were willing to pay 1.40 for an asset that was economically worth 1. This demonstrates that people pay this type of premium when they are prepared to do anything to gain exposure, somewhat reminiscent of what happened recently with Bitcoin and MicroStrategy, for example, with the results we see today.

📉 The turning point came when the Shenzhen Stock Exchange decided to suspend trading of this fund for an entire day because Chinese investors were stuck. They held a product they couldn't sell, yet they remained exposed to silver, and many of them also had positions in international markets via COMEX futures. If they want to reduce their overall risk or obtain liquidity, the only solution is to sell what is still liquid elsewhere because these are the only remaining exit points. This results in two waves of selling, and when these two flows converge, the paper price plummets. The fundamentals clearly haven't changed. The rule changes have penalized the most aggressive and leveraged positions, just like when the Hunt brothers tried to corner the silver market.

It's always important to learn the history of finance.
$XAG