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3 signs Bitcoin price is forming a potential ‘macro bottom’ By Cointelegraph


3 signs Bitcoin price is forming a potential ‘macro bottom’

(BTC) could be in the process of bottoming after gaining 25%, based on several market signals.

BTC’s price has rallied roughly 25% after dropping to around $17,500 on June 18. The upside retrace came after a 75% correction when measured from its November 2021 high of $69,000.

daily price chart. Source: TradingView
BTC/USD weekly price chart featuring RSI-market bottom relationship. Source: TradingView
BTC/USD versus NUPL performance since 2009. Source: CryptoQuant
Bitcoin Puell Multiple. Source: Glassnode

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