Bitcoin just broke below the floor of its famous Rainbow Chart into the ‘BTC is dead’ zone
Bitcoin peaked at $126,000 in October without reaching the Rainbow Chart’s upper red bands. Now, with BTC near $62,500, the price has fallen below the chart’s floor. The divergence comes as other widely followed bitcoin valuation models have also struggled. The Stock-to-Flow model, which links bitcoin’s price to its programmed supply reductions, projected significantly higher…