存量产量比的回归
存量产量比(SF)的回归是指比特币价格与SF比率的比值。
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Stock to Flow (SF) Reversion is defined as a ratio of the price of BTC divided by SF ratio.
SF reversion is an indicator that measures the relative difference between the market price and SF ratio. SF ratio so far correctly estimates the price trend, which means the price deviation from SF ratio can be an opportunity to bet. If SF reversion is too high compared to the price, the market price would be corrected soon, meaning a bearish moment.
We first build a linear regression model of SF reversion to the price to align two variables. After aligning both in a single graph shown below, we can clearly see the deviations of SF reversion to the price and those points clearly indicate bullish (green boxes) and bearish (red boxes) regimes respectively.