When Precious Metals Run Out of Steam…
Bitcoin’s ByteTrend Score is back to a 2. It is positive that the price is trying to stabilise and has not breached the April low.
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Bitcoin and Silver Pari Passu
Bitcoin’s ByteTrend Score has been downgraded to a zero trend score again. The counter rally didn’t last, and it is hard to be bullish at this point.
Silver or Ethereum?
Little wonder Bitcoin is slack, as the hot money has found a new toy to play with.
Strategy Is Not a Systemic Risk to Bitcoin
It should be noted that MSTR’s risk relates to the premium or mNAV, and not the credit risk. The latter would only kick in if the price of Bitcoin truly collapsed from here.
Saylor’s Dump
Bitcoin’s ByteTrend Score remains at a score of 0 since 16 November. This is bearish.
Baby Bear
Bitcoin’s ByteTrend Score drops to 0., which means the trend is now bearish. The $100k level has been broken, and a bear market fits the four-year cycle thesis.