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Key Indicators Influencing Bitcoin's Future Price

Explore the macro indicators impacting Bitcoin's price trajectory, as shared by Samson Mow, including ETF inflows, hashrate, and government policies.
Published on 2024-02-04

Bitcoin's Recovery and Key Indicators

Bitcoin's price is gradually entering a recovery phase, as noted by key proponent Samson Mow. Monitoring specific macro indicators is crucial for understanding Bitcoin's future trajectory. Among these, Bitcoin Spot Exchange Traded Fund (ETF) inflows are prioritized. The introduction of Bitcoin ETFs in the U.S. is expected to stabilize retail price fluctuations, which could support Bitcoin's long-term growth.

Network Hashrate and Whale Accumulation

The network hashrate is another significant metric, reaching new highs and suggesting potential growth ahead of the next halving event. Additionally, the Finex whale accumulation metric and the 200-week moving average (WMA) trend are essential indicators to consider. These metrics provide insights into the market dynamics and potential price movements.

Tether and Government Economic Indicators

Tether's Asset Under Management (AUM) is highlighted as a crucial indicator due to its role as a liquidity base for Bitcoin. Beyond on-chain metrics, government interest payments on debt, Debt-to-GDP ratios, and nation-state Bitcoin adoption are also influential. Real inflation and M3 Money supply are additional factors that could impact Bitcoin's long-term price outlook.

Current Bitcoin Price and Future Outlook

Currently, Bitcoin's price stands at $41,997.82, experiencing a slight downturn. Despite this, the price remains above the $41,000 threshold but is still 38.9% below its all-time high of $68,789.63. Proponents like Samson Mow anticipate that the forthcoming halving event, coupled with spot Bitcoin ETF approvals, will significantly boost Bitcoin's price, driving it towards new heights.

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