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![toptickcrypto Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::919398266826981376.png) τop τick crypτo 📁 🤖🧠 [@toptickcrypto](/creator/twitter/toptickcrypto) on x 17.3K followers
Created: 2025-07-16 05:40:39 UTC

One of the "lessons" I had from my never finished post comparing episodes from past bubbles described in Devil Take the Hindmost and comparing it to episodes in crypto is that bubbles often depend upon both a source of capital and a bottleneck that prevents rational pricing . 

There are several examples in crypto history alone. From limit of new pack supply during topshot run up and limited editions to mint weekly from artblocks up to the X month lockup on new GBTC shares issued (at NAV but trading at a large premium for a bit). Still pondering if there even is a bottleneck here (aside from the SPACs where the pipe and insiders are locked up) or it's just typical bubble timing on whenever demand for shares above NAV dries out.



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[Post Link](https://x.com/toptickcrypto/status/1945357895144468488)