Bitcoin price hits stock-to-flow rebound level not seen since 2017 all-time high

Bitcoin price hits stock-to-flow rebound level not seen since 2017 all-time high


Bitcoin (BTC) spending over three weeks in the $30,000 range is proving a crucial test for one of its best-known price models.

As noted by Philip Swift, co-founder of trading suite Decentrader on June 11, Bitcoin is issuing a major challenge to the stock-to-flow price forecasting tool.

Is it bounceback time for BTC price?

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BTC price action has hovered in a lower corridor between $30,000 and $40,000 since mid-May. This has worried day traders, while vintage bulls have called for calm and a long-term mindset.

As Cointelegraph reported, the stock-to-flow model continues to accommodate such behavior, even if its estimates call for a BTC/USD value closer to $70,000.

Its creator, PlanB, has nonetheless voiced concern over the future. Should current levels remain for a longer period, his model risks becoming invalidated for the first time in its history.

Highlighting spot price divergence from the stock-to-flow average, Swift explained that such instances have in fact occurred before. Each time, Bitcoin bounced off a given price point

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