Historically Accurate Macro Signal Hints at a Bitcoin Price Bottom
A macro model based on US and China's bond yields suggests a potential Bitcoin rally towards $100,000, supported by whale accumulation and technical indicators.Summary
Bitcoin may be nearing a market bottom, according to a macro model analyzing the US and China’s 10-year bond yields. This model, utilizing a Stochastic RSI oscillator, has historically signaled major BTC market bottoms, preceding significant price surges in 2013, 2017, 2020-2021, and 2023. Recent on-chain data reveals that Bitcoin whales holding between 1,000 and 10,000 BTC have resumed accumulation, mirroring behavior observed during previous market lows. Technically, BTC has held above its 100-week SMA, a level often marking price bottoms, and its RSI has entered oversold territory. A rebound could potentially drive the price towards $100,000 by August, but analysts caution about a potential bull trap if the $78,000 resistance is not breached.
(Source：Cointelegraph)