Bitcoin Community Mocks FT After Column Claims BTC Is Worthless
The Financial Times columnist Jemima Kelly published an opinion piece arguing Bitcoin is "about $70,000 too high" and effectively worthless, predicting it could fall to zero. The article used a provocative metaphor comparing Bitcoin holders to a character who comforts himself while falling from a skyscraper. The crypto community reacted strongly on social media, with traders and commentators framing the FT piece as a contrarian bullish signal. Responses ranged from mockery of the FT’s relevance to defiant optimism, with some users calling the coverage evidence that Bitcoin’s bottom may have been reached. The story names no new data or market-moving events but highlights growing tensions between mainstream financial press skepticism and pro-Bitcoin market sentiment. Primary keywords: Bitcoin, FT, Financial Times, BTC, market sentiment. Secondary/semantic keywords: opinion piece, contrarian indicator, social media reaction, market bottom. The main keyword "Bitcoin" appears multiple times. Implications for traders: watch sentiment-driven flows and potential short-term volatility; no direct fundamental catalyst was reported.
Neutral
The FT opinion piece is primarily rhetorical and not based on new on-chain data or market-moving announcements, so its direct fundamental impact on BTC is limited. However, mainstream negative coverage can influence retail sentiment and trigger short-term volatility. Historically, similar declarations of "Bitcoin is dead" by major outlets have often coincided with local market bottoms and produced contrarian bullish responses from the crypto community — traders referenced such patterns in their reactions. In the short term, expect increased chatter, possible retail sell pressure or short-covering spikes, and asymmetric attention-driven volatility. In the medium to long term, unless accompanied by macro shifts (e.g., regulation, major outflows, or macro tightening), this narrative alone is unlikely to change Bitcoin’s fundamental adoption trajectory. Therefore the market impact is assessed as neutral: sentiment may cause short-term moves, but there is no clear lasting bearish catalyst in the article itself.