btc–bitcoin-bull-run-just-getting-started/” rel=”nofollow”>Felipe fastthe founder of on-chain analysis platform LookIntoBitcoin, recently highlighted the significant increase in global liquidity, which has just reached a new bitcoin-breaks-through-69000-setting-new-record/” rel=”nofollow”>all-time high (ATH). Swift suggested that this was a crucial indicator of how bitcoin may rise in bitcoin-bull-market-glassnode/” rel=”nofollow”>this lockdown.
The most important indicator for bitcoin
Swift claimed that global liquidity was the “most important” chart in this bull run and revealed that it had just reached a new ATH. The graph he shared showed that the bitcoin-halving-overrated-liquidity-cycle/” rel=”nofollow”>global liquidity it was now at $94 trillion and approaching the $100 trillion mark. According to their analysis, this development could also lead to new ATHs for bitcoin.
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Global liquidity was around $90 trillion when btc hit its previous ATH of $69,000 in the bitcoin-shatters-profit-taking-streak-2021-bull-run/” rel=”nofollow”>running of the bulls 2021. Furthermore, the price of bitcoin has risen above that level from global liquidity, thus confirming the correlation between this global liquidity indicator and bitcoin-pre-us-elections/” rel=”nofollow”>The price of bitcoin. Fast x.com/PositiveCrypto/status/1798328717221196198″ rel=”nofollow”>reclaimed that bitcoin's rise is “inevitable” as long as global liquidity maintains its trend.
Fast btc–bitcoin-bull-run-just-getting-started/” rel=”nofollow”>mentioned that btc had a “long way to go” after reaching a new ATH of $73,750 in March. He referenced the MVRV z-score indicator, which showed the flagship cryptocurrency was still well below its fair value. In a recent x.com/PositiveCrypto/status/1796448528392487316″ rel=”nofollow”>x publicationthe founder of crypto suggested that bitcoin at least rise above $100,000 before the top of the market can be said to have been reached.
Swift stated that bitcoin's upper cycle indicators continued to rise. These main indicators were the maximum delta, the terminal price and the maximum limit, which were at $137,579, $148,390 and $364,541, respectively.
Meanwhile, like Swift, cryptoanalyst Tarekonchain bitcoin-shark-whale-investors-go-to-the-market-heres-how-much-btc-they-bought/#:~:text=bitcoin%20Investors%20Have%20Bought%20154%2C560,in%20the%20last%20five%20months.” rel=”nofollow”>recently highlighted the Market Value to Realized Value (MVRV) indicator and mentioned that bitcoin was still far from its peak. Based on this, the analyst predicted that btc could still reach new highs in this cycle and possibly surpass $100,000.
btc on the brink of history
bitcoin-price-left-danger-zone/” rel=”nofollow”>crypto Analyst Rekt Capital mentioned that bitcoin could soon make history if a breakout occurs soon enough. He claimed that if that happens, this will be the fastest bitcoin to ever break out of a post-halving reaccumulation range. A successful breakout of this range will send bitcoin into the “parabolic phase” of the cycle, when it is expected to reach new highs and potentially bitcoin-pre-us-elections/” rel=”nofollow”>rise above $100,000.
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Interestingly, Standard Chartered Bank bitcoin-pre-us-elections/” rel=”nofollow”>foretold that bitcoin could reach $100,000 even before the US presidential election takes place in November. The bank further predicted that btc could reach $150,000 by the end of the year if crypto-companies/” rel=”nofollow”>Republican candidate Donald Trump emerges victorious at the polls.
At the time of writing, bitcoin is trading at around $71,000, up in the last 24 hours, according to bitcoin/” rel=”nofollow”>data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
