Bitcoin is clinging to its 200-week exponential moving average (EMA), a level the host of The O Show — a daily crypto-focused program — describes as “super, super important” support that she’d almost rather see decisively broken to flush out the market.
In a weekend stream, Wendy O, the host Of The O Show, walked through Bitcoin’s higher‑time-frame structure, challenged a headline narrative about XRP “capitulation,” and tied recent volatility to macro drama ranging from US tariffs to institutional positioning, all while reiterating a long‑term conviction in BTC and a small basket of large-cap altcoins.
Key Takeaway: Let Bitcoin “Just Dump” Below 200-Week EMA
On the weekly chart, Bitcoin is sitting right at the 200-week EMA, with indicators showing only a “little bit of an uptick” that she doesn’t find convincing. The host notes that in prior cycles — 2018–2019 and 2022–2023 — BTC not only pierced this line but traded below it for a period before staging major recoveries.
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Rather than hoping the level holds, she says she would prefer a decisive move lower: “I actually want us to finally get it over with and go and dump down below the EMA 200… just let it fall, let it be done and over with.”
A projected downside target around $55,000 would mark roughly a 70% draw-down from cycle highs, which she argues would still be consistent with the pattern of “less severe” bear market pullbacks over time.
On the daily chart, Bollinger Bands (BOLL) are contracting while BTC chops sideways in the low $60,000s, a setup she reads as coiled energy ahead of a larger move. Support zones around $62,000, $60,000, and then $55,000 define her downside map.
XRP’s “Capitulation” Story Questioned Amid ETF Uncertainty
The host pushed back on a widely shared piece from CoinDesk citing Santiment data that framed $1.93 billion in weekly realized losses as evidence XRP holders had capitulated. She questions whether the analysis cleanly separates ETF flows from spot investor behavior, and she’s particularly skeptical that the XRP community has thrown in the towel.
“You guys are not selling,” she says, referencing comments from her audience and long‑standing holder sentiment. In her view, it is more plausible that “short-term speculators” or ETF-related flows are being captured in the loss data, though she stresses she cannot verify that solely from the article.
For her own positioning, XRP is a “tier two” asset she intends to hold for a time and eventually sell, with the expectation that Bitcoin will outperform over the long run. BTC, she says, is something she plans to pass down to her children and “never sell,” while acknowledging that others may choose to borrow against it instead.
Macro pressure Causes Altcoin Stress: What still Looks ‘Investable’?
Wendy O links recent volatility to broader political and macro developments, including US tariff moves and scrutiny of major players such as Cantor Fitzgerald.
She notes that a rumor about Cantor profiting from tariff-related instruments was debunked, but argues the episode reflects how “we’ve got literally everybody and their mom” — from banks to foreign governments — watching and positioning around Bitcoin.
Regulatory clarity in the US remains murky in her view, with political friction, banking interests, and the push for yield on stablecoins all slowing progress.
Against that backdrop, altcoins have “not performed like they were supposed to,” and sentiment feels “gross.” Ethereum, Solana, and others are mostly grinding on key supports; she flags ~$1,500 on ETH as an important line, with a deeper, more painful level near $865 if Bitcoin truly cascades lower.
Despite the gloom, she is still building a concentrated portfolio around Bitcoin, Ethereum, XRP, Chainlink, and projects tied to real-world assets (RWA), AI, DeFi, and some privacy, with less appetite for highly speculative small caps and fewer active trades.
The working thesis: a sharp, cleansing draw-down below the 200-week EMA, followed by a rebound similar to prior cycles.
For crypto investors, the message is blunt. Expect the possibility of a proper bear‑market leg — not just sideways chop — and position size accordingly. But for those with multi‑year horizons on large-cap “real use case” assets, she suggests the underlying cycle pattern has not fundamentally broken, even if the route there is messy.
People Also Ask:
The host treats it as a key long-term sentiment and cycle line: past bear markets have seen BTC trade below it before major recoveries, so a breakdown there would not automatically signal the end of the asset, but rather a deeper phase of the cycle.
No. She disputes this characterization, arguing that long‑term XRP holders — especially the vocal “XRP Army” — are still committed, and that reported realized losses may be influenced by ETF or short‑term flows.
Around $55,000, which she frames as a plausible target consistent with a roughly 70% draw-down from cycle highs and with the pattern of gradually less severe bear markets.
She says she is “heavy on Bitcoin” and Ethereum, with additional exposure to XRP, Chainlink, and projects tied to AI, real‑world assets, DeFi, and select privacy plays, while avoiding the kind of high‑risk trades she took in earlier cycles.
