Faustian Bargain Unwind? Bitcoin Under $69,000 Bitcoin showing comfort below $69,000, despite the record-setting stock market, may signal continued reversion toward $10,000. The biggest money pump in history buoyed the first-born crypto to a roughly $69,000 peak in 2021, which wasn't revisited until US ETFs were launched in 2024. The 2019-20 average near $10,000 set the foundation I expect to revisit. President Donald Trump's reelection in November 2024 helped pump the price above $100,000 on the back of his favorable crypto pivot. At $63,000 on Aug. 16, Bitcoin may be signaling an unwind of what might be considered a Faustian bargain. My graphic shows Bitcoin closely tracking the Nasdaq-100 Index relative to the S&P 500, pointing to continued mean-reversion risk for the cryptocurrency. Bitcoin emerged in 2009 and is now one of millions of cryptocurrencies. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tjpahbkip3ik {BI COMD} #Bitcoin @Bloomberg(Mike McGlone)