If November 2024 labor market data is bad (unemployment rate trending up), Bitcoin's base case is a soft landing, potentially dropping to the 100-week SMA by end of 2024, then rising in 2025.
"Base case if the labor market data comes in really bad and it and it looks like the unemployment rat's trending back up into into the end of the year I would say base case is that Bitcoin gets into a a soft Landing scenario where where it potentially goes back down to the 100 we SMA and then goes up in 2025."