W/e 9th May 2021

BTC: $58,288
OBTC: $26,064
VG: 7.40

Not much to add, we’re continue to consolidate in the VG ~7 to VG ~8 range, now right in the middle of it.

Things start to get interesting if we can convincingly break VG ~8. Interestingly, VG ~8 now corresponds to the prior ATH just under $65K. We’ve often looked at this as a signal where re-entering price discovery becomes feasible. Of course, over the last couple of months, we haven’t actually entered sustained price discovery, but it’s still a signal to look out for.