On July 23rd, cryptocurrency analyst Willy Woo shared the top five macro signals for Bitcoin that he is closely monitoring, with three bullish and two bearish.
Bullish Signal:
The miner surrender period is over, which is one of the most reliable bull market indicators.
The computing power is recovering, and the bottom of the price and computing power is synchronized with the new generation of hardware upgrades.
Global liquidity is starting to expand, which is conducive to traditional financial purchases of risky assets such as bitcoin.
Put signal:
Spot exchange volume increased, including the transfer of 50,000 BTC from Mt. Gox to Kraken.
The upcoming launch of the Ethereum Spot ETF may result in the transfer of some funds from the Bitcoin ETF.
Woo believes that the bullish factors outweigh the bearish factors in general. He pointed out that in the short term, Bitcoin only needs to break through $73,000 to trigger a short squeeze, pushing the price to $77,000, after which it will enter the price discovery stage.
Analysts: Bitcoin's five major macro signals bullish factors outweigh bearish factors
2024-07-23 04:39:22
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