Quick Bitcoin Update

Volatility on New ATH Day

Hello all,

Congrats on a new Bitcoin all-time high. As usual in crypto, euphoria is often short-lived, and anyone hoping to go levered long on a break of 69K has been wiped out.

I am away on travel, but didn’t want this historic (and volatile) day to pass without offering a brief update, as I imagine there is at least some concern out there.

We’ve been eyeing this macro move months, and been one of the few to expect a high likelihood of a pre-halving ATH.

Nothing about my recent macro indicator reads has changed, so let me offer a quick update on how I view today’s price action in the short-term.