Bitcoin bounces to $30.7K as analyst presents Stock-to-Flow BTC price model rehash
— Lost ground, Chain analytics firm glassnode, Shows, Majority, Crypto market cap compared, Incoming inflection point, Price, S2f, Timmer proposed taking, Increasingly controversial stock — 1 min read
Bitcoin (BTC) climbed to fresh local highs overnight into June 3 after U.S. equities cut losses. Wall Street provides short-term relief for Bitcoin, with Nasdaq up 2.7%. On-chain analyst Jurrien Timmer proposes taking into account Bitcoin’s supply curve to produce a more conservative trajectory for price growth. Timmer: Bitcoin supply and demand needs a "fresh take" on Stock-to-Flow (S2F) price model, which failed to validate its $100,000 end-of-year prediction in 2021, has become increasingly sidelined as its creator, PlanB, fields criticism. The next block subsidy halving event is increasingly figuring as a line in the sand for a return to bullish strength. Source