Defense Wins Championships
Investors,
Relative to the median U.S. stock, Bitcoin is hitting new year-to-date highs.
We can prove this by analyzing the chart above, comparing Bitcoin vs. the Value Line Geometric Index, which represents the median stock listed on U.S. exchanges. Bitcoin is breaking out relative to the median stock and is now trading at the highest levels since May 2022.
On a nominal basis, Bitcoin is now up +80% YTD.
On a relative basis vs. VALUG, Bitcoin is up +89% YTD.
I think both of these will be up more than +100% before the end of the year.
Even relative to the most liquid financial instrument in the world, the U.S. Treasury, Bitcoin is hitting new YTD highs!
We continue to see more evidence in favor of bullish market dynamics for Bitcoin across a variety of indicators & cross-market relationships, particularly as price chops around $30,000 for the third straight day. At first glance, this is a stark contrast vs. the defensive market dynamics that we continue to see in the stock market. However, I’d suggest that Bitcoin is increasingly being perceived as a defensive asset, objectively within the crypto market and now more broadly across all markets.
In this premium report, we’ll cover these core topics:
S&P 500 under-the-hood metrics, in order to diagnose broader market conditions
Sector-specific analysis to identify areas of strength and weakness
Macro indicator using industrial metals
The top charts that I’m seeing in the altcoin market
The 3 portfolio adjustments that I made this past week
In total, this report contains 12 updated charts that I haven’t shared anywhere else.
Don’t forget, today is the final day to secure the 25% discount to the premium membership so that you can access these reports. Let’s begin.