Coach Mark here.

Bitcoin had a decent day yesterday with a strong move towards recent resistance levels. However, it received almost no attention in market commentary with Bill Ackman stealing headlines yesterday announcing the closing of his bond short. Bitcoin must have been offended as it has decided to take all the headlines this morning with a power move to levels it has not seen since the spring of 2022.

There will be a lot of commentary/guesses to the catalyst behind the move. The creation of a Spot ETF, a flight to safety bid…lots of guesses/reasons given/speculation to why Bitcoin made the move.

There is a reason I refer to it as the Church of Bitcoin in the Halftime Report. Bitcoin is still a developing asset class. It does not have a long track record of correlation/causation links. It does though have believers. I am one of those.

Can I articulate with the same level of analysis why I think Bitcoin is going higher over the years to come that I can with gold, silver, other commodities, or many stocks? No. But I do believe it is going higher as progress towards financial freedom and as such I will always look for opportunities to be involved.

Have a fantastic Tuesday!

Chart of the Day: Bitcoin (/BTC)

Bitcoin certainly is catching people’s attention with that candle!

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