{
  "ticker": {
    "uuid": "0f3f1aea-7f39-4325-bbe2-abd235ad395d",
    "symbol": "BITP",
    "name": "CoinShares Bitcoin ETP",
    "exchange": "LSE",
    "country": "GB",
    "assetType": "etf"
  },
  "methodBoundary": "The SM framework classifies the established weekly price path as the Core Trend. Faster and slower Trend views and Sharemaestro context describe that state but do not alter its direction.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "latest_close": 46.349998,
    "direction": "negative",
    "state": "Negative across all Trend views",
    "is_fresh": false,
    "is_near_boundary": false,
    "direction_boundary": 83.385002,
    "boundary_margin": -0.444145,
    "trend_agreement": "Fully aligned",
    "persistence": "Established",
    "direction_turnover": "Low",
    "annualized_volatility": 0.369262,
    "volatility_stability": 0.9925,
    "risk_context": 0.2708,
    "current_regime": {
      "move": -0.057831,
      "interruption": 0.209991,
      "interruption_label": "Largest rebound inside regime"
    },
    "research_priority": 100.0,
    "interpretation": {
      "label": "Negative across all Trend views",
      "headline": "All measured Trend views are negative",
      "body": "The faster, intermediate, established and Core Trend views point in the same direction, giving the current regime broad agreement.",
      "age_context": "The current Core Trend is established.",
      "boundary_context": "The latest close is 44.4% below the decision boundary.",
      "stability_context": "Recent Core Trend turnover is low."
    },
    "chart_path": [
      {
        "date": "2026-02-06",
        "close": 49.195,
        "direction_boundary": 76.385002,
        "core_momentum": -0.35596,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.467081
      },
      {
        "date": "2026-02-13",
        "close": 48.810001,
        "direction_boundary": 74.125,
        "core_momentum": -0.341518,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.466637
      },
      {
        "date": "2026-02-20",
        "close": 48.060001,
        "direction_boundary": 75.120003,
        "core_momentum": -0.360224,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.465923
      },
      {
        "date": "2026-02-27",
        "close": 47.240002,
        "direction_boundary": 64.169998,
        "core_momentum": -0.26383,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.460193
      },
      {
        "date": "2026-03-06",
        "close": 51.43,
        "direction_boundary": 65.394997,
        "core_momentum": -0.213548,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.479434
      },
      {
        "date": "2026-03-13",
        "close": 51.970001,
        "direction_boundary": 63.115002,
        "core_momentum": -0.176582,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.475389
      },
      {
        "date": "2026-03-20",
        "close": 50.605,
        "direction_boundary": 62.755001,
        "core_momentum": -0.19361,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.473508
      },
      {
        "date": "2026-03-27",
        "close": 47.775002,
        "direction_boundary": 62.57,
        "core_momentum": -0.236455,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.474246
      },
      {
        "date": "2026-04-03",
        "close": 48.619999,
        "direction_boundary": 62.110001,
        "core_momentum": -0.217195,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.446018
      },
      {
        "date": "2026-04-10",
        "close": 52.049999,
        "direction_boundary": 60.77,
        "core_momentum": -0.143492,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.463134
      },
      {
        "date": "2026-04-17",
        "close": 55.244999,
        "direction_boundary": 61.459999,
        "core_momentum": -0.101123,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.451862
      },
      {
        "date": "2026-04-24",
        "close": 55.544998,
        "direction_boundary": 69.209999,
        "core_momentum": -0.197443,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.446394
      },
      {
        "date": "2026-05-01",
        "close": 55.529999,
        "direction_boundary": 70.57,
        "core_momentum": -0.213122,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.4447
      },
      {
        "date": "2026-05-08",
        "close": 56.34,
        "direction_boundary": 74.709999,
        "core_momentum": -0.245884,
        "direction": "negative",
        "trend_agreement": 0.75,
        "volatility": 0.434799
      },
      {
        "date": "2026-05-15",
        "close": 57.16,
        "direction_boundary": 75.650002,
        "core_momentum": -0.244415,
        "direction": "negative",
        "trend_agreement": 0.75,
        "volatility": 0.433188
      },
      {
        "date": "2026-05-22",
        "close": 55.040001,
        "direction_boundary": 78.25,
        "core_momentum": -0.296613,
        "direction": "negative",
        "trend_agreement": 0.75,
        "volatility": 0.387162
      },
      {
        "date": "2026-05-29",
        "close": 52.535,
        "direction_boundary": 75.779999,
        "core_momentum": -0.306743,
        "direction": "negative",
        "trend_agreement": 0.75,
        "volatility": 0.371443
      },
      {
        "date": "2026-06-05",
        "close": 43.630001,
        "direction_boundary": 74.860001,
        "core_momentum": -0.417179,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.444575
      },
      {
        "date": "2026-06-12",
        "close": 45.970001,
        "direction_boundary": 75.010002,
        "core_momentum": -0.387148,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.452864
      },
      {
        "date": "2026-06-19",
        "close": 45.849998,
        "direction_boundary": 74.695,
        "core_momentum": -0.38617,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.452851
      },
      {
        "date": "2026-06-26",
        "close": 43.779999,
        "direction_boundary": 75.154999,
        "core_momentum": -0.417471,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.455084
      },
      {
        "date": "2026-07-03",
        "close": 44.674999,
        "direction_boundary": 76.334999,
        "core_momentum": -0.414751,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.453001
      },
      {
        "date": "2026-07-10",
        "close": 45.985001,
        "direction_boundary": 84.18,
        "core_momentum": -0.45373,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.454502
      },
      {
        "date": "2026-07-17",
        "close": 45.224998,
        "direction_boundary": 84.495003,
        "core_momentum": -0.464761,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.447928
      },
      {
        "date": "2026-07-24",
        "close": 46.215,
        "direction_boundary": 82.964996,
        "core_momentum": -0.442958,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.443131
      },
      {
        "date": "2026-07-31",
        "close": 44.689999,
        "direction_boundary": 83.474998,
        "core_momentum": -0.46463,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.431828
      },
      {
        "date": "2026-08-07",
        "close": 46.349998,
        "direction_boundary": 83.385002,
        "core_momentum": -0.444145,
        "direction": "negative",
        "trend_agreement": 1.0,
        "volatility": 0.369262
      }
    ],
    "price_history": [
      {
        "date": "2025-02-07",
        "close": 76.385002,
        "volume": 3134
      },
      {
        "date": "2025-02-14",
        "close": 74.125,
        "volume": 303
      },
      {
        "date": "2025-02-21",
        "close": 75.120003,
        "volume": 367
      },
      {
        "date": "2025-02-28",
        "close": 64.169998,
        "volume": 10333
      },
      {
        "date": "2025-03-07",
        "close": 65.394997,
        "volume": 1839
      },
      {
        "date": "2025-03-14",
        "close": 63.115002,
        "volume": 4408
      },
      {
        "date": "2025-03-21",
        "close": 62.755001,
        "volume": 824
      },
      {
        "date": "2025-03-28",
        "close": 62.57,
        "volume": 266
      },
      {
        "date": "2025-04-04",
        "close": 62.110001,
        "volume": 1298
      },
      {
        "date": "2025-04-11",
        "close": 60.77,
        "volume": 605
      },
      {
        "date": "2025-04-18",
        "close": 61.459999,
        "volume": 358
      },
      {
        "date": "2025-04-25",
        "close": 69.209999,
        "volume": 3384
      },
      {
        "date": "2025-05-02",
        "close": 70.57,
        "volume": 1006
      },
      {
        "date": "2025-05-09",
        "close": 74.709999,
        "volume": 430
      },
      {
        "date": "2025-05-16",
        "close": 75.650002,
        "volume": 1582
      },
      {
        "date": "2025-05-23",
        "close": 78.25,
        "volume": 1141
      },
      {
        "date": "2025-05-30",
        "close": 75.779999,
        "volume": 754
      },
      {
        "date": "2025-06-06",
        "close": 74.860001,
        "volume": 300
      },
      {
        "date": "2025-06-13",
        "close": 75.010002,
        "volume": 163
      },
      {
        "date": "2025-06-20",
        "close": 74.695,
        "volume": 184
      },
      {
        "date": "2025-06-27",
        "close": 75.154999,
        "volume": 223
      },
      {
        "date": "2025-07-04",
        "close": 76.334999,
        "volume": 50
      },
      {
        "date": "2025-07-11",
        "close": 84.18,
        "volume": 1106
      },
      {
        "date": "2025-07-18",
        "close": 84.495003,
        "volume": 337
      },
      {
        "date": "2025-07-25",
        "close": 82.964996,
        "volume": 174
      },
      {
        "date": "2025-08-01",
        "close": 83.474998,
        "volume": 654
      },
      {
        "date": "2025-08-08",
        "close": 83.385002,
        "volume": 1089
      },
      {
        "date": "2025-08-15",
        "close": 83.275002,
        "volume": 656
      },
      {
        "date": "2025-08-22",
        "close": 83.125,
        "volume": 500
      },
      {
        "date": "2025-08-29",
        "close": 77.379997,
        "volume": 427
      },
      {
        "date": "2025-09-05",
        "close": 79.035004,
        "volume": 585
      },
      {
        "date": "2025-09-12",
        "close": 81.834999,
        "volume": 668
      },
      {
        "date": "2025-09-19",
        "close": 82.889999,
        "volume": 4530
      },
      {
        "date": "2025-09-26",
        "close": 78.635002,
        "volume": 1890
      },
      {
        "date": "2025-10-03",
        "close": 86.860001,
        "volume": 1879
      },
      {
        "date": "2025-10-10",
        "close": 86.084999,
        "volume": 1130
      },
      {
        "date": "2025-10-17",
        "close": 76.345001,
        "volume": 12198
      },
      {
        "date": "2025-10-24",
        "close": 79.445,
        "volume": 4944
      },
      {
        "date": "2025-10-31",
        "close": 80.779999,
        "volume": 7215
      },
      {
        "date": "2025-11-07",
        "close": 74.285004,
        "volume": 18425
      },
      {
        "date": "2025-11-14",
        "close": 71.004997,
        "volume": 33002
      },
      {
        "date": "2025-11-21",
        "close": 61.285,
        "volume": 29170
      },
      {
        "date": "2025-11-28",
        "close": 66.415001,
        "volume": 13433
      },
      {
        "date": "2025-12-05",
        "close": 64.415001,
        "volume": 25210
      },
      {
        "date": "2025-12-12",
        "close": 65.205002,
        "volume": 9959
      },
      {
        "date": "2025-12-19",
        "close": 63.674999,
        "volume": 16647
      },
      {
        "date": "2025-12-26",
        "close": 62.279999,
        "volume": 1664
      },
      {
        "date": "2026-01-02",
        "close": 64.309998,
        "volume": 3301
      },
      {
        "date": "2026-01-09",
        "close": 65.610001,
        "volume": 7481
      },
      {
        "date": "2026-01-16",
        "close": 68.269997,
        "volume": 2322
      },
      {
        "date": "2026-01-23",
        "close": 63.5,
        "volume": 4135
      },
      {
        "date": "2026-01-30",
        "close": 58.325001,
        "volume": 7260
      },
      {
        "date": "2026-02-06",
        "close": 49.195,
        "volume": 29211
      },
      {
        "date": "2026-02-13",
        "close": 48.810001,
        "volume": 35476
      },
      {
        "date": "2026-02-20",
        "close": 48.060001,
        "volume": 4592
      },
      {
        "date": "2026-02-27",
        "close": 47.240002,
        "volume": 3533
      },
      {
        "date": "2026-03-06",
        "close": 51.43,
        "volume": 4254
      },
      {
        "date": "2026-03-13",
        "close": 51.970001,
        "volume": 4601
      },
      {
        "date": "2026-03-20",
        "close": 50.605,
        "volume": 4219
      },
      {
        "date": "2026-03-27",
        "close": 47.775002,
        "volume": 7011
      },
      {
        "date": "2026-04-03",
        "close": 48.619999,
        "volume": 4326
      },
      {
        "date": "2026-04-10",
        "close": 52.049999,
        "volume": 6684
      },
      {
        "date": "2026-04-17",
        "close": 55.244999,
        "volume": 5076
      },
      {
        "date": "2026-04-24",
        "close": 55.544998,
        "volume": 2970
      },
      {
        "date": "2026-05-01",
        "close": 55.529999,
        "volume": 5773
      },
      {
        "date": "2026-05-08",
        "close": 56.34,
        "volume": 5817
      },
      {
        "date": "2026-05-15",
        "close": 57.16,
        "volume": 405
      },
      {
        "date": "2026-05-22",
        "close": 55.040001,
        "volume": 6673
      },
      {
        "date": "2026-05-29",
        "close": 52.535,
        "volume": 7622
      },
      {
        "date": "2026-06-05",
        "close": 43.630001,
        "volume": 24571
      },
      {
        "date": "2026-06-12",
        "close": 45.970001,
        "volume": 325
      },
      {
        "date": "2026-06-19",
        "close": 45.849998,
        "volume": 154
      },
      {
        "date": "2026-06-26",
        "close": 43.779999,
        "volume": 2134
      },
      {
        "date": "2026-07-03",
        "close": 44.674999,
        "volume": 1859
      },
      {
        "date": "2026-07-10",
        "close": 45.985001,
        "volume": 17314
      },
      {
        "date": "2026-07-17",
        "close": 45.224998,
        "volume": 5680
      },
      {
        "date": "2026-07-24",
        "close": 46.215,
        "volume": 8154
      },
      {
        "date": "2026-07-31",
        "close": 44.689999,
        "volume": 12291
      },
      {
        "date": "2026-08-07",
        "close": 46.349998,
        "volume": 16215
      }
    ],
    "sharemaestro_context": {
      "trend": 50.853833,
      "fair_value": 64.892278,
      "market_activity": -46.652196,
      "market_dynamics": -0.289168,
      "relative_strength": -30.487025
    },
    "historical_outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 6,
        "median_return": 0.012144,
        "directional_follow_through": 0.3333,
        "regime_survival": 1.0,
        "conditional_difference": 0.004206,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 1,
        "median_return": 0.145238,
        "directional_follow_through": 0.0,
        "regime_survival": 1.0,
        "conditional_difference": 0.249945,
        "sufficient": false
      },
      {
        "horizon": "Longer term",
        "sample_count": 1,
        "median_return": -0.057831,
        "directional_follow_through": 1.0,
        "regime_survival": 1.0,
        "conditional_difference": 0.0,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 0,
        "median_return": null,
        "directional_follow_through": null,
        "regime_survival": null,
        "conditional_difference": null,
        "sufficient": false
      }
    ],
    "regime_history": [
      {
        "direction": "negative",
        "start": "2026-02-06",
        "end": "2026-08-07",
        "tenure": "Extended",
        "return": -0.057831
      }
    ]
  }
}