Bitcoin Showing Signs of Impending Rally, Says Market Intelligence Firm
A market intelligence firm has recently released a report indicating that Bitcoin (BTC) is signaling an upcoming rally to the upside. According to Bitcoin Vector, a crypto analytics firm, the return of liquidity to the top crypto asset by market cap is a positive indicator for a potential bull market.
“The signal we’ve been waiting for:
- Bitcoin liquidity has experienced a notable expansion in June after hitting a three-year low.
- With BTC consolidating below its all-time high, the increase in liquidity supports the possibility of sustained upside movement.
- While not a definitive breakout, this shift in liquidity is seen as a constructive development.
Capital is cautiously flowing back into the market, setting the stage for the next phase of growth.”
Bitcoin Vector also points out that BTC is currently displaying a pattern that has historically preceded significant gains.
“Structure shift + price momentum: a powerful combination.
- The potential for a Bitcoin uptrend is evident with this setup: Bullish momentum + confirmation of a structural shift (highlighted in blue).
- We are witnessing the same pattern emerge once again.
- Historically, this setup has led to substantial upside movement.”
Furthermore, Bitcoin Vector highlights that Bitcoin has been outperforming Ethereum (ETH) over the past year, indicating that ETH is currently undervalued and in a position to catch up.
“In the last year, BTC has seen a significant increase while ETH has experienced a decline.
- However, this strength in BTC has come at a cost.
- Bitcoin’s dominance is stretched, while ETH is now undervalued and under-owned, signaling a potential rotation in the market.”
As of the latest update, Bitcoin is trading at $107,140, while Ethereum is valued at $2,434, both showing slight increases for the day.
Stay updated with us on X, Facebook, and Telegram
Subscribe to get email alerts delivered directly to your inbox and keep track of price action and market trends.
Generated Image: DALLE3