20 Bitcoin Indicators Flashing Simultaneously, And This Could Send The Price To $150,000
Crypto Sweep analyst revealed that 20 Bitcoin indicators they flashed bullish at the same time, giving a bullish view of the leading crypto. Based on this development, the analyst predicted that BTC could meet at $150,000, setting a new all-time ATH.
20 Bitcoin Indicators Suggest at Rally To $150,000
In an X postSweep said 20 independent indexes are bullish at the same time. He mentioned that this has happened only three times Bitcoin historyand each time was followed by a 300% meeting. The first of this indicator is the Global M2 money supply, which recently hit an all-time high (ATH) while BTC is lagging behind.
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Sweep also pointed out that the Dollar Index is at 100, the exact same level that preceded the 500% rallies twice before. Another bullish indicator is that BTC trading fee have dropped to a 7-year low, with only 2.1 million BTC left across all crypto exchanges. The exchange’s decline came as whales bought 270,000 BTC in a 30-day period, the biggest wave of accumulation since 2013.
Another bullish indicator is that the Fear and Greed Index has stuck to extreme fear for 46 straight days, currently 12. Bitcoin’s weekly RSI has been printed at 27.48, the third time in history that it has been low. In addition, financial values they have been wrong for weeks, with traders paying money to short BTC.
Meanwhile, Sweep also revealed that the stablecoin supply has reached an all-time high of $320 billion, while the supply is sitting on the sidelines. Miners have been holding for 4 months straight, which is the longest streak in the cycle. At the same time, hash rate recovering from a 22% decline.
The Macro Angle of BTC
Sweep mentioned bullish macro indicators, such as The Fed is ending quantitative easingit pulls out the reverse repo from $2.5 trillion to almost zero, and resumes purchases of Treasury bills. In addition, Consumer confidence is at the second lowest point ever recorded in 70 years of data, while ISM manufacturing rebounded for the first time in 40 months.
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Another bullish indicator is that Bitcoin ETF market capitalization it turned positive in March, with revenue of $2.5 billion. SoSoValue data shows that BTC ETFs are on track to end a streak of four consecutive months of outflows. Sweep mentioned that BTC recently printed 5 consecutive red candles in a month, which only happened once and led to a 308% rally. Finally, 92% of short-term owners are underwater.
The analyst noted that the last time these multiple signs were aligned was November 2022, when Bitcoin traded at $16,000. Since then, BTC has pushed to a new ATH of $126,000.
At the time of writing, the price of Bitcoin is trading around $67,500, down from the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
