More than half of all $BTC in circulation is now held at an unrealized loss.
10.5M BTC are underwater. Only 9.8M are in profit.
This crossover has coincided with every major bear market bottom in history.
BTC also just touched its 200-week moving average at $61,300, a level reached in every previous bear market cycle, though it broke below it for 9 months in 2022.
If $60k breaks, the next support is $54,000, the average cost basis of every coin in circulation.
History says we're near a bottom. History also says "near" can take a while.
Charlie Munger, one of the greatest investors of all time, said:
"Buy high quality assets on the 200 week moving average and you'll beat the S&P 500 by a large margin."
The best buy signal in Bitcoin isn't a pattern or an indicator.
It's the 200 week moving average.
Every time $BTC has touched it, it marked a generational bottom.
2015. 2019. 2020. 2022.
We just touched it again at $61,800.
I laughed yesterday when I read Ryan's $2B Buy Back proposal. Not only because I knew the June 2nd POI date location back in January, but because Ryan said "$2B." Why?
📚
Math:
-$2B in Buy Back immediately would justify the June 28th Macro POI and take the stock to $30.
-$2B/$23 = 87 Mil shares gone from current total outstanding of 450m shares.
-Once GME claims a $37-40 stock price by Oct 30th (as I have expected since January) GME raises $2B in cash through 59m shares of Warrant dilution.
-Net cost of moving GME's stock price from $20 to $40 = $0
-Net shares diluted to accomplish this ends up being only around 30m, not 59m.
‼️ Don't ever forget I knew exactly WHAT PRICES & WHAT DATES GameStop was going to mark up before the news dropped. I cracked BlackRock's repeating algorithm in 2022, and my data proves the entire market is pre-planned years in advance. $GME Watch my video in April for the POI dates.