Don't Call it a Comeback!

LSU and Iowa faced off last night in Albany, New York, in a highly anticipated rematch of the 2023 NCAA women's national championship. The previous meeting saw LSU claim a commanding 102-85 victory, with a memorable moment occurring when LSU's Angel Reese taunted Iowa's Caitlin Clark by waving her hand in front of her face and pointing to her championship ring, adding fuel to their rivalry. Last night’s matchup featured the redemption of Caitlin Clark who scored 41 points in Iowa’s victory.

Interestingly, the showdown between Reese and Clark reminds me of the Stock to Flow (S2F) Model, a concept in the world of bitcoin that attempts to predict the future price of Bitcoin based on its scarcity. While the S2F model has faced criticism and has been proven wrong in some instances, it's intriguing to consider the potential implications if the model's predictions were not meant to be accurate at every interval, but rather a strong indicator suggesting that Bitcoin's value could rise exponentially as its scarcity increases over time. Are we witnessing the redemption of S2F?

RO

Market Analysis

Weekly View

Bitcoin's Pullback: A Weekly Analysis Update

In this week's newsletter, we discuss Bitcoin's journey after achieving its highest weekly close at $71,725 last week. It experienced a pullback, dropping to the $65,000 to $66,000 range, as of preparing this post. Bitcoin needs to stabilize above the previously highlighted critical zone between $57,500 to $61,600. For a detailed analysis and context, revisit our prior insights here. This call to stability echoes our earlier analysis, where we indicated that closing above $57,500 to $61,600 could mark a new phase for Bitcoin.

Daily View

Resistance and Support: Bitcoin's New Trading Range

In our updated daily analysis, we observe that Bitcoin encountered resistance within the $68,500 to $71,000 zone, suggesting the formation of a trading range between this resistance area and the previously mentioned support zone of $59,000 to $61,500. Interestingly, this support aligns closely with the weekly zone we've discussed, which is between $57,500 and $61,600. This pattern indicates a consolidation phase, as Bitcoin navigates between these critical levels, offering insights into potential future movements and market sentiment.

Weekly Statistics

Bitcoin Market Cap

Bitcoin Dominance

Disclaimer: The information provided in this newsletter is for educational and informational purposes only. It should not be construed as financial advice or a recommendation to buy, sell, or hold any financial instruments.