Interesting JPM analogy: BTC volatility dampening due to 6% of BTC supply sopped up by BTC Treasury Companies. JPM compares to QE dampening vol post 2009. Their BTC "fair value" of $126K relative to gold makes sense per the Gold/BTC chart below.
Good to be back on X. Old account got hacked. Excited by this chart of Bitcoin. Nice, healthy consolidation with a "Reverse head and shoulders forming" (including a right shoulder that is up and to the right.