Bankless Co-founder David Hoffman: BTC Sits at 200-Week MA, FTX-Style Systemic Collapse Unlikely in Current Climate

Bankless co-founder David Hoffman stated that Bitcoin is currently trading exactly on the 200-week moving average. He noted that BTC only broke below this level during the Terra-3AC-FTX cascade — one of the most destructive systemic crises in crypto history. He believes that risks from Strategy’s convertible bonds are far from that scale, making a repeat of an FTX-level meltdown improbable for now.