Bitcoin narrative questioned: traders urged to focus on data

In a Cointelegraph interview, Ran Neuner says he is “confused” about Bitcoin’s core narrative and cannot clearly explain why people should buy it. He argues Bitcoin has struggled to track traditional store-of-value assets like gold in the last cycle, leaving investors with uncertainty about what Bitcoin is and where its value comes from. Neuner does not offer price calls for 2026. Instead, he advises investors to stop trying to predict market direction and to build data-driven theses while managing downside risk. He links market behavior to macro variables, pointing to the Iran war, oil prices, and inflation, and argues that capital flows—not headlines—are the more reliable signal. He also outlines a longer-term scenario where AI agents transact autonomously, potentially driving a new digital economy powered by crypto infrastructure. Overall, the message for traders is that Bitcoin’s identity debate may increase information noise, so risk controls and flow-based analysis could matter more than narrative-driven bets.