Mean, Median, Mode: April 30th, 2025
Our bi-weekly quantitative risk report for TBL Pros
Dear Readers,
Today’s edition of Mean Median Mode—a weekly quantitative report summarizing bitcoin price analysis and global macro narratives to position investors and bitcoin watchers with the data that matters—adds high-signal bitcoin metrics and indicators thanks to the addition of our newest writer, Johan. His dynamic on-chain analysis will add value to all future reports. So, without further ado, here’s our latest risk report.
Looking for the perfect video to push the smartest person you know from zero to one on bitcoin? Bitcoin, Not Crypto is a three-part master class from Parker Lewis and Dhruv Bansal that cuts through the noise—covering why 21 million was the key technical simplification that made bitcoin possible, why blockchains don’t create decentralization, and why everything else will be built on bitcoin.
Bitcoin Overview
With bitcoin and gold up 48% and 42% respectively, trailing 12 months, compared to the lowly 9% returns of the S&P 500, we judge that markets are in a more discerning mindset. Instead of binging on all risk assets, investors are separating between the risky allocation into stretched equity valuations and the monetary hedges of digital and atomic gold.
You want to know what the conditions are for the bitcoin market, including rates, stocks, and of course, the impact of volatility—also more simply described as uncertainty. We analyze each macro contributor as well as present our findings with the ongoing construction and optimization of our proprietary metric TBL Liquidity. Bitcoin charts we’ve recently created help illustrate bitcoin fundamentals away from entirely macro factors, and we’re excited for you to see them in today’s report.
Bitcoin: Technical Analysis
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