BTC_POWER_LA

The power law is broken, lol. Yeah, R^2 keeps growing.
If anything given we didn't have a strong bubble it is better than ever.

The power law is stronger than ever.
The fact that we never entered the Turbulent Flow regime (red zone) actually makes the power law statistically more robust than in previous cycles. We repeatedly attempted to push into Turbulent Flow (hints of red since November 2025), but each time price reverted back into the green zone. After that, we spent months simply oscillating around the power law — essentially most of 2026.
Even when price moved below the blue reference line, the growth rate between November and the end of January remained parallel to the power law. In other words, we deviated in

PMI and BTC correlation. Big deal has been done on this correlation. Right now seems to be broken, PMI is growing but BTC is experiencing a strong negative correction.

Look at the long time trend. Still on the path.

BTC Risk adjusted metric. We have not reached the bottom at 0. Current value 16.

Returns are more revealing than price itself. The extreme negative returns we had in the last few days are comparable to what we experienced during COVID. In both cases we had strong subsequent bounces.

This chart shows a decoupling between liquidity and BTC price starting in September 2025. Liquidity keeps growing while BTC price suffered a severe correction. Hopefully this is disconnect is temporary. Eventually price catches up to the ever growing money supply.

The bull run didn’t reach the theoretical ~$200k target, but the timing of the cycle peak was not far from where it was expected to occur.As I’ve said before, we still need more data. That said, a plausible interpretation so far is that the 4-year cycle remains structurally intact, but this time the bull run was suppressed.If the bear market lasts as long as in previous cycles, we would expect it to bottom out around October this year at around 70K.So are we expecting side movement for the next few months?

Adaptive power law based on Bayesian regression.

Bitcoin Is Physics, I agree with Arduino.