Baird market strategist Michael Antonelli declared crypto “irrelevant” this week, joining Peter Schiff, Michael Burry, and Mike McGlone in a growing chorus of bears that historically signals bottoms for Bitcoin (CRYPTO: BTC). Antonelli: Crypto Became Irrelevant Fast Antonelli wrote on X that it was “remarkable” how quickly crypto had become “irrelevant,” questioning whether the technology had delivered any meaningful real-world adoption beyond functioning as a payment system.
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