Samson Mow shared several macro indicators to watch when predicting Bitcoin’s behavior. Analyst Cypherpunk supported Mow’s observation by showing evidence of ongoing Bitcoin accumulation on Bitfinex. JPMorgan says Bitcoin ETF hype has cooled.
Samson Mow: Follow these 10 indicators for Bitcoin rally!
Bitcoin supporter Samson Mow outlined several macro metrics to watch when predicting BTC’s behavior. Mow identifies ETF inflows, Hashrate, Bitfinex whale accumulation, and 200 WMA trend as some of the important indicators to watch for bull signals. In this context, the analyst recommends these 10 indicators for market players to follow:
- “ETF inflows.
- Bitfinex whale accumulation.
- 200 WMA trend.
- Hashrate.
- Tether USDt AUM.
- Government debt interest payments.
- Debt to GDP ratios.
- Nation-state Bitcoin adoption.
- Real inflation.
- M3 money.”
The analyst, nicknamed Cypherpunk, points out the ongoing accumulation of Bitcoin by crypto whales on Bitfinex. In this context, the analyst supports Mow’s observation with a screenshot. Other metrics that make up Mow’s indicators include Tether (USDT) Assets Under Management (AUM), government debt interest payments, Debt to GDP ratios, and nation-state Bitcoin adoption. Mow also adds Real Inflation and M3 money supply to the list of indicators for measuring BTC trend.
Cypherpunk calls the macro indicators on Mow’s list, particularly the whale accumulation on Bitfinex, a “great alpha.” A combination of positive results in these indicators may indicate that the Bitcoin bull trend has started again.
JPMorgan: BTC ETF hype is cooling down
JPMorgan analyst Kenneth Worthington suggests that interest in Bitcoin ETFs is waning. Worthington predicts a shift towards “a more normalized streaming environment,” highlighting a potential decline in initial excitement. Following a four-day redemption streak, spot Bitcoin ETFs saw net sales of approximately $15 million on January 26. This reversal points to investors’ changing attitude towards these new financial products. cryptokoin.comAs you follow from , BTC prices have fallen by approximately 9% since their entry into the market. However, as the new trading week began, BTC reached 43 thousand dollars.
JPMorgan previously correctly predicted that the approval of Bitcoin ETFs would be a ‘sell the news’ event. BTC price fell from above $47,000 to below $39,000 before spot Bitcoin ETF approvals. The sell-off coincided with significant outflows from Grayscale’s BTCTrust (GBTC), which transitioned to a spot Bitcoin ETF following SEC approval. Recently, JPMorgan strategist Nikolaos Panigirtzoglou suggested that profit taking from GBTC will begin to decrease. This meant that the pressure on BTC from this source should now be greatly relieved. However, the bank’s analysts remain skeptical about the influx of fresh capital into the crypto space due to these new ETF approvals.
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