Bitcoin holds near 60450 with extreme fear and flat macro conditions.

The Lead

Bitcoin trades near 60450 amid extreme fear and an MVRV of 1.13, which keeps holders from aggressive selling yet produces no sustained buying pressure or leverage to drive price higher. The ignored contradiction sits in the network's rising hashrate and stable infrastructure alongside macro stability that offers no fresh liquidity or risk catalyst, leaving security intact while price support stays absent. How long can elevated hashrate coexist with MVRV this low before miners or holders force a supply adjustment that tests the current range?

The full briefing

The full briefing is free with an account

Four more sections every morning: market conditions, network health, geopolitical watch and the macro pulse.

Registration takes an email or a Nostr key, and either way 7 days of VIP come with it.

Create a free account Sign in

The Wire

BITCOIN
Analyst warns BTC could drop further after worst June since 2022 — Cointelegraph

BITCOIN
Bitcoin tops $60K amid Fed inflation talks: Is bull trap or $65K next? — Cointelegraph

ECONOMY
Oil falls as easing Middle East tensions send Brent to its worst quarter since 2020 — CNBC

CONFLICT
Russian missiles and drones kill 11 and cause damage across Ukraine capital — NPR World

CONFLICT
Russia launches massive strike on Ukraine as Poland scrambles jets, Finland restricts airspace — CNBC

ECONOMY
What's Behind The Plunging Won And Sudden Liquidity Collapse In Korean Markets — ZeroHedge

Sources (18)

The Situation Room is paid for by its members, in sats: no ads, no data sales, no investors. Membership →