 
 
The Monetary Occasions has come underneath fireplace after publishing a provocative opinion piece declaring that Bitcoin is doomed to break down. In a lower than humble opinion, the information outlet declared the flagship cryptocurrency basically nugatory.
Bitcoin Is “About $70,000 Too Excessive”?
The crypto market was eviscerated final week. BTC slumped to a historic low, coming eerily near as little as $60,000 — roughly 50% down from its report peak a mere 4 months in the past.
Whereas Bitcoin has since rebounded simply above $70,000, it comes at a dismal price: it has erased the entire beneficial properties since President Donald Trump gained the election in opposition to Kamala Harris in November 2025.
Spectators aren’t presumably hopeful about an imminent sturdy restoration, with some critics predicting absolutely the worst.
The article, written by FT columnist Jemima Kelly and entitled “Bitcoin continues to be about $70,000 too excessive,” claims that the world’s largest and oldest cryptocurrency is headed to zero.
 
Kelly likened Bitcoin traders to the primary character within the French movie La Haine, who reassures himself with the phrase “up to now, so good” whereas falling from a skyscraper — moments earlier than hitting the bottom.
In line with her, the availability of “higher fools” is lastly drying up, suggesting that that nobody will purchase an already overvalued asset anymore.
A Contrarian Sign
Seasoned market observers usually view mainstream media proclaiming Bitcoin’s demise as a possible sign that the market has reached its backside.
One consumer on X urged that such protection from conventional shops usually precedes a market rebound, arguing that destructive media narratives are inclined to emerge simply earlier than Bitcoin begins to rally.
“NOW we are able to confidently say Bitcoin’s backside has been reached. When outdated, incompetent, conceited media begin posting…is when Bitcoin begins flying,” the consumer wrote on X.
The view was shared by a number of different onlookers throughout the crypto business. “Bitcoin at $69k alerts institutional accumulation greater than retail panic. When legacy media calls a prime, it’s sensible cash loading — not a market peak. The FT has been improper on each main BTC transfer since 2017. Historical past repeats,” one other X consumer acknowledged.
Different responses have been extra blunt, criticizing the Monetary Occasions and questioning its affect and relevance in an more and more digital panorama.
In the meantime, the main crypto is up roughly 10% from Friday’s low of $62,822 and is at present buying and selling at $68,808, in response to CoinGecko knowledge.
