While Bitcoin (BTC) has maintained its upward momentum for weeks, analysts pointed out that these 3 charts show signs that the bullish trend has begun.
While Bitcoin and the cryptocurrency market in general continue to make investors happy 3 different parameters He pointed out that the rise could continue.
According to experts The decline in 10-year US Treasury bond yieldsglobally of central banks more Turning towards loose monetary policies and the USA financial conditions for risk products, especially cryptocurrencies positive He drew a picture.
On the other hand approximately Tightening interest policy for 2 years adopter US Federal Reserve (FED) More in 2024 loose interest policy Signals that it will adopt were among the positive indicators.
According to market analysts with the Covid pandemic global scale swelling together inflation is decreasing and central banks may want to take action to print more money. Possible money printing could accelerate the cash flow to risk products and provide new fuel for the cryptocurrency market to continue its rise.
US Financial Conditions Index (FCI) The so-called data revealed that the USA is rapidly returning to loose monetary policies. This index is the highest level of the year seen a few weeks ago. Falling from 100.74 to below 100 It reversed all the tightening seen in September and October in one fell swoop.
on the other hand 10-year US Treasury bond yields The graph also shows that the decline will continue. This represents one of the serious positive signals for risk products. The data in question has fallen by 50 basis points since the US Treasury announced that it was slowing down bond purchases at the beginning of the month. decreased to 4.43%.
Experts also note that the daily chart of 10-year bonds shoulder head shoulder (OBO) formation He emphasized that it points to the continuation of the decline.
