Last Friday, Geoffrey Kendrick's report to clients pointed out that Bitcoin previously dipped to about $59k, which is very likely the bottom of this cycle, but to be cautious, he set three "confirmation conditions" for the bottom:


1. Strategy (MSTR) resumes buying Bitcoin;
2. Bitcoin spot ETF shifts from net outflow to net inflow;
3. International oil prices continue to weaken.

Unexpectedly, in just a weekend, all three conditions have been fully met.

Strategy announced that last week they added another 1,587 Bitcoins to their holdings; the Bitcoin spot ETF, which had been bleeding, also saw a net inflow of $86 million last Friday; at the same time, international oil prices continued to decline, significantly reducing market concerns about energy costs driving inflation and rising government bond yields.
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