Prominent crypto analytics firm Swissblock says one key metric is suggesting that Bitcoin ( BTC ) is in the midst of carving a major market bottom. Swissblock says on the social media platform X that it’s keeping a close watch on the Bitcoin Fundamental Index (BFI), a metric that combines liquidity and network growth. According to Swissblock, the BFI is strengthening , indicating the steady entry of new market participants who bring fresh liquidity into the BTC network. “Bitcoin is signaling a bottom, not the end of the bull market! The bottoming process is in its final stages, with an explosive move likely next. BFI is telling us what is next.” Source: Swissblock/X Swissblock says Bitcoin’s liquidity conditions need to rise a little higher to confirm a massive bullish reversal. “Once liquidity crosses the 50 threshold, the shift will be abruptly bullish, leaving little room for the bears to react.” Source: Swissblock/X Based on Swissblock’s chart, Bitcoin’s liquidity level is hovering at 44. According to the analytics firm, its bullish outlook on BTC is supported by the surging M2 money supply, which tracks the total amount of money in circulation within an economy. “This aligns with the growth in M2 supply. Bitcoin has been lagging that growth, but it’s catching up, gradually.” But while Swissblock is bullish on BTC, the firm notes that it is still within the realm of possibility for BTC to witness another sell-off event. “Yes, in the short term, the bottoming process is underway and entering its final phase. What comes next is likely an explosive upward move. And yes, another breakdown is still possible in the short term. In terms of price, it would represent an entry point for new participants, and more liquidity into the system.” At time of writing, Bitcoin is trading for $75,014, down over 7% on the day. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Bitcoin (BTC) Gearing Up for Explosive Upside Move Amid Short-Term Bottoming Process, Says Swissblock appeared first on The Daily Hodl .
https://www.digistore24.com/redir/325658/ceobig/
