Bullish Signals for Bitcoin

A popular crypto strategist suggests that a confluence of macroeconomic factors indicates a bullish trend for Bitcoin (BTC).

Insights from Analyst TechDev

Pseudonymous analyst TechDev shared with his 517,800 followers on X that the Bitcoin bull market is not yet over. According to him, a setup characterized by rising global liquidity and a bottoming business cycle is developing.

Key Concepts:

• Global Liquidity: The total amount of money circulating in the world’s financial system.
• Business Cycle: The fluctuations in economic activity over time, including periods of growth and contraction.

TechDev argues that Bitcoin often sees the most significant part of its bull market when global liquidity reaches new highs just as the economy starts to recover.

> “We’re at that rare point where liquidity retested its breakout and is surging higher… Right as the business cycle bottomed and reversed. Only the third of these setups in the last 12 years. The other two propelled the crypto market to its steepest legs. Ignore the noise.”

Historical Patterns

Based on TechDev’s analysis, he suggests that Bitcoin may replicate the patterns observed in its 2016 and 2020 bull markets. During those times, BTC rallied to new highs as global liquidity increased and the business cycle reversed.

Currently, Bitcoin is trading at $86,635.

Generated Image: Midjourney