From "pulling" to "pulling": Who is the "real tough guy" when Bitcoin falls?

The article examines the behavior of prominent crypto figures and institutions during a significant Bitcoin price decline from its high of $120,000 to below $60,000. It rates them based on their stated beliefs versus their actual actions.

  • Michael Saylor / MicroStrategy is rated Excellent. He consistently bought more Bitcoin as the price fell, demonstrating a "unity of knowledge and action" despite massive paper losses. His average cost is around $76,000.
  • Binance is rated Top-tier. The exchange backed its words with action by converting $1 billion of its SAFU fund into Bitcoin, using real money to support the market.
  • Peter Brandt is rated Top Tier. As a bearish trader, he consistently warned of a pullback based on his technical system before the crash, earning respect for his disciplined and honest stance.
  • Robert Kiyosaki is rated Superior. While his anti-fiat philosophy is consistent, his practical action is criticized as too slow, waiting for ideal bottom prices in other assets.
  • PlanB and Benjamin Cowen are rated NPC (for entertainment only). Their predictive models (like S2F) failed, and they shifted their narratives dramatically after the market turned, with no evidence of personal buying.
  • Arthur Hayes is rated All done. Once bullish, he has become evasive, discussing macroeconomic topics while staying silent on whether he bought the dip.

Conclusion: The author argues that in a bear market, only two types of people are worth attention: true believers like Saylor who buy against the trend, and disciplined traders like Brandt who stick to their systems. All other predictions and analyses are merely noise.

Summary

Author: Biteye

Bull markets produce "prophet" figures, while bear markets are the "lie detectors."

As of February 6, 2026, Bitcoin has plummeted from its high of $120,000 last year, and even broke through the $60,000 mark in the early hours of this morning, with contracts briefly reaching the $50,000 range. Those who were shouting "eternal bull market" and "it will definitely break $250,000 in 2026" just six months ago are now mostly silent.

We tracked the public statements and on-chain activities of six major KOLs and institutions during this market crash. The data doesn't lie; it brutally revealed who the true believers are and who are just opportunists.

The Only True "Tough Guy": Michael Saylor's Madness and Purity

If there's only one person in the crypto world who truly practices "unity of knowledge and action," it can only be @saylor .

He gave the buy order at the peak in October 2025; he bought in during the crash in January and February 2026.

When the market panicked as prices fell below $80,000, MicroStrategy's buying spree was practically a suicidal declaration of toughness:

  • January 12: $1.25 billion was spent, with an average price of $91,519.
  • January 26: An additional $264 million was added, at an average price of $90,061.
  • February 2: Purchased another $75.3 million, at an average price of $87,974.

In just one month, he defied the trend and added tens of thousands of BTC, raising his total holding cost to around $76,000. This means that at the current price of $64,500, Saylor has already incurred a huge paper loss. However, he did not wait for "bottom confirmation" like technical analysts, nor did he worry about "recession risks" like macro analysts.

For Saylor, a price drop means only one thing: it's on sale, so go all in.

Rating: Excellent (Unity of knowledge and action, the only true God)

Real money: Binance; The honest "big short": Peter Brandt

Binance announced at the end of January that it would convert $1 billion of its SAFU fund into Bitcoin, and completed its first purchase (approximately $100 million) on February 2. While battling rumors and misinformation, it also invested real money in Bitcoin – this is the responsibility of a leading exchange.

Rating: Top-tier (Real money used to support the market)

While you might not like him as a bull, @PeterLBrandt has earned respect through his opinions. He poured cold water on the frenzy of October 2025 by warning of a "50% pullback risk." Now, instead of being hindsight, he's consistently reinforcing his bearish view. Although he doesn't buy (and may even be shorting), his loyalty to his trading system is extremely high.

Compared to those who only change their tune and call it a bear market after the market crashes, these "die-hards" who rely on technical logic deserve respect.

Rating: Top Tier (Logical Closed Loop, Honest Short)

Robert Kiyosaki, a "theorist" observing from the sidelines.

Robert Kiyosaki ( @theRealKiyosaki ) continues to tirelessly promote his "anti-fiat currency" philosophy. While the logic remains the same, the action is far too slow.

He talks about the "Rich Dad" mentality, but he's clutching cash, fantasizing about buying at the bottom when gold is at $4,000 and silver at $74. In this volatile market, excessive waiting often means missing out or being caught off guard. Theory perfect, practical application a complete disaster.

Rating: Superior (Viewpoint valid, but typing too slowly)

The Fall from Grace of the "Model School": PlanB and Benjamin Cowen

This round of decline represents yet another shattering of the "model superstition."

PlanB's S2F model ( @100trillionUSD) has once again been disproven by the market. His confident promise that "BTC will never fall below $100,000" has become a joke. His current tweets discuss a "shallow bear market" and "weak bull market," but offer no evidence whatsoever of him personally buying the dip.

Benjamin Cowen (@intocryptoverse) also experienced a dramatic shift in logic. From expecting a "new high" in Q4 of last year to suddenly confirming the "bear market has arrived" in February of this year, and forecasting a drop to the 200-week moving average (approximately 58,000), this huge directional correction caught many investors who followed its cycle off guard.

Rating: NPC (Predicted to collapse, for entertainment purposes only)

"Brothers in our hearts, but if something happens, you can't get through on the phone": Arthur Hayes

Arthur Hayes (@CryptoHayes ), once known as the "King of Investing," has recently fallen into a strange state after announcing a target of "$1 million."

Unlike Saylor, he didn't buy in, nor did he become bearish like Brandt. Instead, he started talking about other things, discussing the macroeconomy, the yen exchange rate, and the Fed's money printing, but remained silent about whether he had bought at the bottom.

Rating: All done (Dude, say something, don't play dead)

In conclusion

The rating is complete, and the conclusion is harsh: in this market, only two types of people are worth paying attention to.

1. Like Saylor, a "madman" who dares to publicly disclose his wallet address and continues to buy more as prices fall despite billions in unrealized losses.

2. Traders like Brandt who disregard emotions and strictly adhere to discipline.

As for other predictions, models, and macroeconomic analyses? They're nothing but noise in the face of a $65,000 candlestick chart.

The current price is still below Saylor's cost line. Will you choose to believe those KOLs who have changed their tune, or will you believe the real money being bought on-chain?

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Author: Biteye

This article represents the views of PANews columnist and does not represent PANews' position or legal liability.

The article and opinions do not constitute investment advice

Image source: Biteye. Please contact the author for removal if there is infringement.

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