An Important Bitcoin Indicator Is Getting Closer to a Bullish Flip: Is $150,000 Still Possible?
"The behavior of the DXY (Dollar Index), which measures the value of the United States dollar in comparison to a basket of foreign currencies," is one of the most important aspects of this cycle, according to Coutts. "The Dollar is surrounded by a range. It is important to note that the mood of the market about liquidity is often mirrored in real-time by the movements of the DXY. He said that a break below 101 would be rocket fuel for Bitcoin.
The issue with the United States debt was also discussed by Coutts. He said that if there is not a conservative change in Congress that advocates for fiscal discipline, then there is a high probability that further deficit spending would occur in the near future. This might further affect liquidity circumstances that benefit Bitcoin.
In his conclusion, Coutts expressed a note of caution while also expressing hope. He said, "While my framework requires two-thirds of the MSI indicators to turn bullish in order for macro headwinds to turn into tailwinds, Bitcoin price action will probably sniff out this inflection in the macro before most indicators react."
Due to the fact that his study indicates that it would be unwise to gamble against Bitcoin in the event that it breaks above its all-time highs, it is anticipated that Bitcoin may potentially soar over $150,000 during this cycle. Because it prices in mkt expectations on liquidity in real time, the DXY is the most important piece of information about the Bitcoin cycle. And there will be liquidity soon. View the 101/102 level on the DXY channel. During this cycle, he made a statement that if it breaks, then we should see $150k worth of bitcoin.
