The Technology Bear Market
There can be no doubt that Bitcoin has been caught up in the technology selloff. At its heart, Bitcoin is an internet stock.
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Tech Weakness Drags Bitcoin
Bitcoin’s ByteTrend Score has dropped back to a 1. There is no new low yet, but this is clearly a setback.
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.
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.