Bitcoin Prints A 2022-Like Iran War Chart, But It’s Not

Renowned macro analyst Alex Krüger is pushing back on a comparison that has taken hold across desks since strikes involving Iran began: that markets are replaying the 2022 Russia-Ukraine shock, with crypto and Bitcoin in particular tracing an uncomfortably familiar pattern. Yes, the setups rhyme, Krüger wrote in a March 4 Substack note. But he argues the analogy breaks where it matters for Bitcoin: monetary policy and the persistence of the energy shock. “Markets are panicking. Everyone sees 2022 again. The chart setups look almost identical and the energy shock is real,” he wrote. “But the comparison falls apart under scrutiny. The macro is different, and the oil disruption is transitory.” What Is Crucial For Bitcoin Now Krüger’s starting point is historical rather ...