MARKET STATE
Seeing Bitcoin Clearly
Most investors study price.
Very few study Market State.
Price moves quickly. Market State moves slowly.
Market State reveals
whether conditions are favorable…
or hostile.
Supply sets the structure.
Liquidity provides the fuel.
Ownership shows the direction.
Market State reveals the environment.
Market State Explains Price
Bitcoin price can change quickly.
Market State changes slowly.
Sometimes price and Market State agree.
Sometimes they do not.
When they disagree…
Market State usually wins.
The Four Pillars of Bitcoin
Bitcoin can only be understood by studying four forces:
Supply – The structural side of Bitcoin
Liquidity – The energy behind price moves
Ownership – Who holds Bitcoin
Market State – The overall environment
Together, they explain Bitcoin beyond the four-year cycle.