Three signs that Bitcoin is finding its market bottom

Bitcoin might be establishing a local bottom after dropping over 35% from its record high, based on three key indicators: momentum, miner capitulation, and macro liquidity. Momentum signals include the weekly Stochastic RSI turning up from oversold levels and a bullish divergence on the three-day chart, patterns seen before past market bottoms. Secondly, a recent 4% drop in Bitcoin's hashrate suggests miner capitulation, which historically precedes stronger 90-day and 180-day Bitcoin returns. Finally, improving macro liquidity, specifically the National Financial Conditions Index (NFCI) trending lower, often leads a Bitcoin rally by four to six weeks, similar to the conditions before the 2019 liquidity injection that preceded a 40% rally. Despite these bullish signs, some analysts still anticipate further price declines.

(Source：Cointelegraph)