"Bitcoin flashes 'bottom signal' in macro indicators…could regain $100,000 within months"
Summary
- It reported that a macro indicator combining U.S. and Chinese 10-year government bond yields has produced a bullish crossover signal.
- It said the signal has repeatedly appeared around bottom phases in past Bitcoin markets and is similar to the start of bull markets.
- It analyzed that if Bitcoin rebounds from its long-term support line, it could rise to around $100,000 by August.
Forecast Trend Report by Period
Macro indicators that could have a major impact on Bitcoin (BTC) prices are signaling a bottom, fueling expectations for a rebound.
On the 13th (Korea time), digital-asset news outlet Cointelegraph, citing data from analyst “AO,” reported that “a macro indicator combining U.S. and Chinese 10-year government bond yields has recently generated a bullish crossover signal,” adding that “this signal has repeatedly appeared when the Bitcoin market has been reaching a bottom in the past.”
The outlet added that the indicator showed similar signals at the onset of bull markets in 2013, 2017, 2020–2021 and 2023, and analyzed that “if Bitcoin rebounds from its long-term support line, it could climb to around $100,000 by August.”
Meanwhile, as of 5:55 p.m. on the day, Bitcoin was trading at $71,872, up 2.84% from the previous day, according to CoinMarketCap.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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