The Daily View 6/25/2026: Bitcoin @$58k, MicroStrategy collapse, Reflecting pool, AI…

Bitcoin has finally plunged to $58,000. This will go down as one of my greatest forecasts ever, if not the greatest. I was the only person, back in 2025 when it was at >$100,000, who predicted there would be no BTC reserve, whilst also recommending shorting Bitcoin a a hedge against tech stocks. The latest catalyst for the selling is a possible MicroStrategy-led debt spiral. Zooming out gives a perspective of how bad things have gotten: As I correctly predicted, there is not going to be any help from Trump despite his own personal crypto investments and those of his sons rapidly going to zero. No bailouts or reassuring words to help MicroStrategy, whose CEO Michael Saylor was a major Trump backer, or Bitcoin. Trump’s cost basis is zero, compared to suckers who bought at the top in 2025. I remember getting into debates online in late 2024 after he won arguing that he would not help Bitcoin despite being called a “crypto president” by the media. The assumption was Trump would…