Bitcoin is Dead. Long Live Bitcoin.

RSI: 18. Fear & Greed: 20. Down 26% from the May high. The obituary writers are out in force.

But zoom out. 61.4% below Power Law fair value. 8% above a support floor that has never once been breached in 15 years. BES mean-reverting after historic panic selling.

Issue #8 of Dr. Jeff's Macro Chartbook is live — every other Thursday, after the close.

Here's a link to Issue #8:
https://substack.com/@jeffross191961/p-200670034