June 14, 2026·Sawyer·IQ Market Memo·Issue 02Operator
Bitcoin's first test of its four-year line since it broke in 2022. It held.
Last week I had Cycle IQ at 48.6 and three things on the watch list: ETF flows turning green, a Cycle slide into the low-40s as confirmation the cooling had more room, and attention spiking on no demand. The week didn't play out that way. Bitcoin had its worst stretch of 2026 and the score briefly tagged 41.2 midweek, then it firmed instead of breaking, ETF outflows nearly dried up, and attention didn't spike. It compressed further. The softening setup I sketched a week ago never got confirmed.
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