- Bullish analysts expect a BTC relief rally.
- The BTC price chart sees a bullish divergence on the daily chart.
- Seen as Bitcoin’s biggest macro signal, major price rally is expected.
With the price of Bitcoin once again up from $80,000 to $83,000, analysts have found that one of Bitcoin’s biggest macro signals has returned and expect a BTC relief rally to begin. Despite this sudden bullish expectation, the CoinMarketCap Crypto Fear and Greed Index points to a score of 21 marking ‘Fear’ market sentiment.
This score beats out yesterday’s ‘Extreme Fear’ sentiment and explains why one highly reputed analyst’s sudden bearish moves and an expectation of a major black swan event is now only calling for a BTC local bottom formation between the $68,000 and $74,000 price. Initially he was calling for much lower prices, but the market sentiment seems to have improved slightly.
Bullish Analysts Expect a BTC Relief Rally
As for the bullish indicators playing out for Bitcoin right now, one analyst highlights how he expects a Bitcoin relief rally to start from here. In detail, he says that BTC has just formed a bullish divergence on the daily chart. Furthermore, he says that the last two times this happened, the price of BTC rallied to an extremely bullish rise on candle close.
Bitcoin’s Biggest Macro Signal Returns
Adding to the narrative above, another analyst calls this Bitcoin’s biggest macro signal and says that it is back, which means BTC price will pump. This analyst highlights exactly how much BTC pumped by the last two cycles when this signal came to play, in 2016, BTC went parabolic and pumped over 4,000% and in 2020 it pulled a mega rally and pumped over 1,500%. Now, will Bitcoin enter price discovery this time in 2025?
