Sucker Rally

1) The collective Bitcoin network, at a $21k price, is losing around $5 billion per year.  Energy prices (costs) are rising rapidly and the miners need a $40K price to stay in business.

2) FOMO sentiment measures the size and intensity of interest in a stock.   Potential buyers can be quantified, like a salesman evaluating the desperation/desire of a prospect.

3) "Higher lows and higher highs" (HLHH) is a technical analysis pattern which implies a rising stock price.   See it below? Traders watch for this.

It's a well-known pattern and if a billionaire wanted Bitcoin's price to rise, they might monitor FOMO desire until there's a high, then time purchases to create an HLHH pattern which lures traders into a buy.  Which they did.  For awhile.

Now we're back to $21K so the network is still losing $5 billion per year.   And the longer Bitcoin stays in this range, the higher likelyhood of a cascading failure as miners run out of cash.