In a report published on November 13, 2026, at 18:40 (UTC+8), Odaily cited DeFi researcher Ignas’s view that Bitcoin faced a crisis of confidence, not simply a price decline. His argument was about market belief in Bitcoin as a store of value: he said continued price weakness was eroding that belief because the narrative is closely tied to price performance.

Ignas said many investors had expected $58,000 to mark the bottom of the cycle. When Bitcoin did not rebound while AI stocks recovered, he said, sentiment weakened further and some investors seeking to buy a dip turned to AI stocks instead of crypto. He also described crypto-community commentary as unusually quiet compared with past Bitcoin declines, when bullish voices had been more prominent. According to Ignas, even some early Bitcoin believers had begun buying ZEC or PRL as hedges.

He also pointed to stablecoin outflows and the possibility that Strategy could be removed from MSCI as sources of concern. Although some altcoins were holding up relatively well against Bitcoin, he said Bitcoin’s weakness continued to weigh on the broader market.

These are Ignas’s observations about sentiment, not a measured test of Bitcoin’s long-term purchasing-power protection or a comparison with gold’s performance. Original report.