The Mining numbers. Then consider we are .702 back using the July 2021 low and the Nov 2021 top.
If I purchase the latest miners (100 Th/sec) and pay $0.06 kWh, my break even is around 133k.
Stock to Flow 10 day and 463 day both equal around 107k. Current price is a 276% discount to S2F - the largest in BTC history given 10 day and 463 day are equal.
Palms out.