Bridgewater Associates founder Ray Dalio warns that Bitcoin (CRYPTO: BTC) could be “cracked and controlled” by governments—a vulnerability he says doesn’t exist with gold.
Dalio Questions Bitcoin’s Security Premise
In a preview of the upcoming “WTF is Finance” podcast, Dalio said that Bitcoin’s transaction transparency creates a fatal flaw.
“One can monitor what the transactions are, governments can monitor what the transactions are, and governments can interfere with those transactions,” Dalio noted.
“Gold is the only asset that you can have that they can’t mess with and control,” he added.
The billionaire hedge fund manager also questioned Bitcoin’s scarcity narrative, comparing potential vulnerabilities to synthetic diamonds.
He noted that Bitcoin faces risks of being cracked, broken, or otherwise controlled.
Technical Setup Points To Breakdown Risk
BTC Price Action By TradingView
Bitcoin is testing critical support within a descending triangle pattern that’s been compressing price action since October.
The 20, 50, 100, and 200 EMAs have converged in the $93,500-$101,900 range.
This creates a resistance cluster that bulls need to reclaim.
Immediate support sits at $88,600-$89,000, with the triangle’s lower boundary at $84,000 representing the line in the sand.
A breach of $84,000 would likely trigger accelerated selling toward $80,000.
On the upside, reclaiming $93,500 would be the first constructive step, though the real test lies at $99,200-$101,900 where longer-term moving averages reside.
Money Flow Analysis
The Chaikin Money Flow indicator reads -0.08, indicating more selling pressure than buying pressure.
The CMF has oscillated near the zero line throughout December, suggesting indecision rather than aggressive selling.
Previous periods of negative CMF in October and November coincided with price corrections, making this metric worth monitoring as Bitcoin approaches triangle apex support.
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