-EXCLUSIVE- I spent hours since last night looking at every possible metric and tracking all the different categories of wallets. First of all, contrary to the news, this selloff has not been the result of SpaceX/Elon Musk selling. It was already done when they disclosed it.
BTC Update: Substantial Movement Within Expected Norms
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It's exactly in the same range as the last buy we did, so I thought it was a good opportunity then, and I still think Bitcoin is well-priced at that level. It is around the fair value of our MLDP model, and the downside from the price floor from thermocap is moderate. Moreover, our SOPR indicator is not extremely far from signaling an exit, while still having some distance before the threshold. This is a good setup since it would limit the potential downside of a failed trade. There is also no red light anywhere, and Bitcoin news is relatively good. I would like to provide more info, but the hard part of where we are is that we are…
Vincent - Is this a buy the dip opportunity for Bitcoin?