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Join us for an interactive market briefing on Friday 6th June. It's the first in a series of briefings for our Bitcoin Vector product intended for institutions and professionals. The early ones will be open to the public with priority seats given to existing customers.

PSA: Bitcoin Vector #6 just came out looking at the structure for the week ahead. This institutional framework, battle tested with significant AUM, called the market action last week in report #5. swissblock.net/products/repor…

NOW is a BAD TIME to take paper bets on BTC. It's open season on liquidation hunts due to high levels of betting. BTC is waiting to purge the bets before the next swing of all-time-highs. Chart: paper bets on BTC, hard to move up with too many casino hitchhikers onboard.

Milton Friedman had the ears of presidencies in the 70s and 80s who they listened to which lead to opening up of global markets, which lead to the boom years of the 90s. He was against the Fed. Even in his time the track record was "more harm than good". End the Fed.

Growing companies prioritise control of their destiny. If their treasury is whipped around by BTC volatility it is not ideal for their stake holders. BTC treasuries make most sense for businesses that have run their course and also startups who don’t care about volatility.

Our shortest term fundamentally driven framework is bearish, but right now technical charts are confirmed on a RSI bullish breakout from a downtrend, once this technically driven bullish run exhausts, we need to see if 103k holds, if not 100k is the next liquidation target.

"Who are the idiots who are selling when institutions and sovereigns are racing to buy billions in BTC?" This chart sheds light. The big whales >10k BTC have been selling since 2017. "They're stupid!" Most of those coins were bought between $0-$700 and held 8-16 years.

Top left quadrant is the most favourable. i.e. BTC moves independent of global macro, powered only by internal forces of buying. That's the recipe for proper BTC bull runs. Moving there slowly slowly. Chart courtesy of Bitcoin Vector