Australian Bitcoin trader Jake Pahor has shifted to a 100% Bitcoin allocation under a rules-based strategy that treats the market’s current risk reading as a buying zone, while excluding all alternative tokens from the portfolio.
Pahor’s CSH risk-score dashboard showed a reading of 25.6 out of 100, up 0.7 over seven days and within the system’s designated accumulation band of 10 to 30. The score had remained between 20 and 30 for 52 consecutive days, a range Pahor’s historical dataset places in the lowest 22% of readings since 2011.
Under the plan, Bitcoin purchases are permitted only while the CSH score remains below 30. Purchase sizes increase as the reading falls, with the largest allocations reserved for a move below 20. The framework has not recorded a sub-20 reading in the current cycle, according to Pahor’s dashboard.
Bitcoin was priced at $64,492, or A$91,717, on the dashboard, with its weekly performance described as broadly flat. Its 200-week moving average stood near $63,300, leaving a closely watched long-term technical level just below the quoted spot price.
A Bitcoin-only approach tied to risk bands
Pahor’s model uses two benchmarks: the U.S. dollar and Bitcoin itself. That distinction changes how performance is assessed. A token that rises against the dollar but loses value against BTC is treated as a loss in Bitcoin terms.
The current portfolio construction leaves no room for Ethereum, Solana, smaller tokens, or stablecoins. The decision reflects Pahor’s assessment that Bitcoin offers the strongest relative positioning while the CSH score remains in an early-cycle range and Bitcoin’s share of the overall crypto market is elevated.
A screenshot of the strategy’s purchase history showed 0.2279 BTC accumulated since late June, working toward a target of 2 BTC. The average recorded purchase price was A$87,755 across three orders made after the tracking tool went live.
The plan is designed to remove discretionary decisions around market timing. Its structure calls for progressively smaller buys as the score approaches 30, then stops new purchases above that threshold. Selling follows the same principle in reverse, using an exit band above the accumulation zone rather than relying on a single price target.
That approach provides a defined response to volatility but does not establish that a low score guarantees a market bottom. The CSH measure is Pahor’s framework, based on historical comparisons and the inputs used in his dashboard. Bitcoin can remain weak or fall further while a strategy remains within its designated buying range.
Bitcoin dominance remains elevated
Market data on Pahor’s dashboard showed Bitcoin dominance at 59.2%, meaning Bitcoin accounted for nearly three-fifths of the total cryptocurrency market capitalization tracked by the measure. Total crypto market capitalization was listed at $2.27 trillion.
The ETH/BTC ratio stood at 0.029, indicating that one Ether was worth 0.029 BTC at the time of the reading. The ratio was described as flat, while the altcoin-market measure TOTAL3/BTC stood at 0.37.
TOTAL3 tracks the cryptocurrency market excluding Bitcoin, Ether, and stablecoins; measured against Bitcoin, it provides a view of whether a broad group of alternative tokens is gaining or losing ground relative to BTC. Pahor’s dashboard referenced prior cycle lows near 0.25 for the measure.
Those figures support the strategy’s preference for Bitcoin over smaller tokens, though they do not independently establish when an “altcoin season” might begin. Bitcoin dominance can rise for extended periods, and relative weakness across alternative assets does not necessarily produce a rapid reversal.
The dashboard’s Fear and Greed Index reading was 26, classified as “fear.” Such sentiment gauges track market mood rather than fundamental value. Paired with a CSH score of 25.6, it gives Pahor’s system two signals that favor continued accumulation, but the indicators measure different concepts and should not be treated as a forecast.
The Fed meeting could test the $63,300 level
Pahor also flagged a Federal Reserve policy meeting scheduled for Wednesday in the United States, with an estimated 85% probability that policymakers would hold interest rates steady. His note focused on the Fed’s language and the potential for two-way price moves around the decision.
Bitcoin’s position above the 200-week moving average near $63,300 gives traders a concrete level to monitor through the weekly close. A sustained close above the average would keep the price above a long-term trend reference used by many market participants. A close below it would place greater attention on whether buying demand remains strong enough to restore the level.
The rate decision may influence short-term risk appetite, particularly if the Federal Reserve changes its guidance on inflation, growth, or future borrowing costs. A pause alone would not settle those questions; markets often react more sharply to policy language and revised expectations than to a widely anticipated decision.
Payments and brokerage access add institutional context
Pahor’s market update also cited reports that Visa had launched a stablecoin platform intended to help banks issue their own stablecoins without building the underlying infrastructure themselves. If deployed widely, such tools would give financial institutions a more direct route to offer tokenized payment products while retaining control over customer-facing services.
The update further referenced Morgan Stanley enabling spot trading in Bitcoin, Ether, and Solana for E*TRADE clients. Brokerage access can make crypto trading available through familiar account structures, though the practical effect depends on eligibility, product availability, fees, custody arrangements, and client demand.
These developments sit alongside Pahor’s more defensive portfolio stance. His framework does not attempt to chase every institutional product announcement or rotate into tokens associated with market narratives. It concentrates exposure in Bitcoin and scales entries according to a predefined score.
With the CSH reading at 25.6, the system remains active but is not yet deploying its largest planned purchases. A decline below 20 would trigger that deeper-buying tier; a rise above 30 would halt new accumulation under the rules.
Explore disciplined BTC-only investing and market cycles in our guide: Best time to buy Bitcoin.
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