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Baird market strategist Michael Antonelli declared crypto “irrelevant” this week, joining Peter Schiff, Michael Burry, and Mike McGlone in a growing chorus of bears that historically signals bottoms for Bitcoin.

Antonelli: Crypto Became Irrelevant Fast

Antonelli wrote on X that it was “remarkable” how quickly crypto had become “irrelevant,” questioning whether the technology had delivered any meaningful real-world adoption beyond functioning as a payment system.

“No one built a single thing on it that gained widespread adoption,” Antonelli posted.

“Remember when it was going to replace the dollar?…