Cryptanalysis Analyst: Bullish Factors Outweigh Bearish Ones Among Five Major Macro Signals

ChainCatcher news, well-known cryptocurrency analyst Willy Woo shared the five major macro signals for Bitcoin that he is closely monitoring, three of which are bullish and two are bearish.

Bullish signals:

• The miner capitulation phase has ended, which is one of the most reliable bull market indicators.

• Hashrate is recovering, with the price and hashrate bottoming out in sync with the new generation of hardware upgrades.

• Global liquidity is starting to expand, benefiting traditional finance's purchase of risk assets like Bitcoin.

Bearish signals:

• The increase in spot exchange coin volume, including the transfer of 50,000 BTC from Mt. Gox to Kraken.

• The upcoming launch of Ethereum spot ETFs, which may lead to some funds being transferred from Bitcoin ETFs.

Woo believes that, overall, bullish factors outweigh bearish factors. He points out that in the short term, Bitcoin only needs to break through $73,000 to potentially trigger a short squeeze, pushing the price to $77,000, after which it will enter a price discovery phase.