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- Samson Mow has outlined several macro metrics to watch while predicting Bitcoin’s behavior.
- Cypherpunk supported Mow’s observation, showing evidence of ongoing Bitcoin accumulation on Bitfinex.
- Bitcoin recovered from a drop to $38,505 and traded above $40,000 at the time of writing.
Prominent Bitcoin supporter Samson Mow has outlined several macro metrics to watch while predicting Bitcoin’s behavior. Mow identified ETF inflows, Hashrate, Bitfinex whale accumulation, and the 200 WMA trend as some of the crucial indicators to watch for bullish signals.
These are the #Bitcoin macro indicators I’m looking at:⬆️ ETF inflows⬆️ Hashrate⬆️ Finex whale accumulation⬆️ 200 WMA trend⬆️ Tether USDt AUM⬆️ Govt interest payments on debt⬆️ Debt GDP ratios⬆️ Nation-state Bitcoin adoption⬆️ Real inflation ⬆️ M3 money— Samson Mow (@Excellion) January 28, 2024
The Bitcoin product merchant Cypherpunk supported Mow’s observation, sharing a screenshot to show an ongoing Bitcoin accumulation by crypto whales on the Bitfinex exchange. In a recent post on X (formerly Twitter), the merchant used a Bitcoin logs chart from TradingView to show a significant bullish behavior among the whales on the crypto exchange.
Other metrics comprising Mow’s indicators include Tether USDT Assets Under Management (AUM), government interest payments on debts, Debt GDP ratios, and nation-state Bitcoin adoption. He also added Real Inflation and M3 money to his list of indicators for gauging the Bitcoin trend.
Mow made the post in the early hours of Monday, January 29, following Bitcoin’s recovery after dropping below $40,000 for the first time in nearly two months. The flagship cryptocurrency broke critical support at $40,200, reaching a local low of $38,505.
BTCUSD Daily Chart on TradingView
A comeback attempt has seen the pioneer crypto reclaim $40,000 and sit above significant support. BTC traded for $42,014 at the time of writing, having traded in a tight range over the weekend, according to data from TradingView.
Cypherpunk described the macro indicators listed by Mow as “some great alpha,” especially the whale accumulation on Bitfinex. A combination of positive outcomes across the listed indicators could signal the resumption of Bitcoin’s uptrend.
The post Samson Mow’s Macro Indicators to Watch Ahead of BTC’s Next Rally appeared first on Coin Edition.