Bloomberg Odd Lots co-host Joe Weisenthal expanded his bearish case for crypto on Tuesday, adding two new reasons to the ten he outlined in February for why this is the worst crypto winter ever.

The Original 10 Reasons Still Stand

Weisenthal’s full list covers every structural headwind crypto faces right now:

Two New Reasons Make It Worse

The first new reason is opportunity cost. SK Hynix is up over 250% year to date and Micron is up over 260%, both driven by the AI and semiconductor boom. 

The Goldman Sachs non-profitable tech basket is surging again just like 2021, with an $11 billion leveraged SK Hynix ETF creating a self-reinforcing feedback loop pulling more capital into memory…

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