Coin Stories with Natalie Brunell

Northstar Charts: Bitcoin To Go Lower ($40k?) and Capital Rotation Event Explained

60 snips
Feb 10, 2026
Kevin Wadsworth, chart analyst and co-founder of Northstar & Badcharts, brings macro technical perspective across Bitcoin, gold, stocks, and bonds. He explores the possibility of Bitcoin dropping toward $40K, how Bitcoin is underperforming versus gold this cycle, and what a multi-year capital rotation between assets could look like.
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ANECDOTE

From Meteorology To Market Charts

  • Kevin draws on meteorology and military forecasting experience to read markets as human-produced patterns.
  • He compares charts to heartbeat monitors and uses a 'weight of evidence' approach like weather forecasting.
INSIGHT

Capital Rotation Seen Across Markets

  • Multiple markets are simultaneously in bear markets when priced in gold, signaling a broad capital rotation.
  • Historical precedents (1930, 1972, 2002) show such alignment precedes long stock-market underperformance and commodity/gold outperformance.
INSIGHT

Bitcoin Correlates With Tech Stocks

  • Bitcoin has so far behaved like a tech-stock correlated asset rather than gold.
  • The Bitcoin-to-gold ratio failing to make a new high signals loss of momentum and potential longer-term weakness versus gold.
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