Anticipating a Potential Bullish Surge in Bitcoin’s Future

Bitcoin is poised for a potential bullish rally, driven by a positive shift in a key metric.

Azcnews (2)

Since reaching the price milestone of $52,900 on February 20, the value of BTC has experienced a decline. Analyzing BTC’s daily performance chart reveals that the onset of the four-day price decrease coincides with the moment its Oscillator began returning red bars on the upward-trending chart. This indicator gauges the intensity and trend direction of the asset over a specific period.

When it displays red bars pointing upward, it signals the presence of short-term bearish sentiment, despite the overall bullish prospects. The slight downturn in BTC’s key momentum indicators since February 20 further solidifies this position. Nevertheless, despite this, Bitcoin’s Relative Strength Index (RSI) and Money Flow Index (MFI) remain above their respective centerlines.

Source: BTC/USDT on TradingView
Source: BTC/USDT on TradingView

According to CryptoQuant’s Bullfighter analyst, Bitcoin might experience another surge in 2024, attributed to the recent uptick in Inter-Exchange Flow Perpetual (IFP), indicating a growth in optimistic sentiment. IFP figures are utilized to analyze the flow of BTC between spot and derivative exchanges. An increase in these figures suggests more BTC is flowing into derivative exchanges, often indicating rising interest and the potential for an uptrend.

Conversely, a decrease in BTC’s IFP signifies more funds flowing from derivative exchanges to spot exchanges, signaling a rise in negative sentiment and often serving as a precursor to a potential downturn.

Source: CryptoQuant

Source: CryptoQuant

The analyst evaluated the historical performance of IFP data and noted that in 2016, BTC’s IFP experienced an extended period of 55 days below the 90-day moving average, a bear market indicator.

Related: $90 Billion USD Flows into Cryptocurrency

However, by June, these figures had surpassed the moving average and showed an upward trend, leading to a significant increase in the value of Bitcoin. Examining the current market, Bitcoin’s IFP has been on an upward trajectory since February 7, following 43 days below the 90-day moving average.

According to the analyst: “If IFP surpasses the 90-day moving average once again, we might witness the bullish camp regaining strength.”

(2 votes)

4.5/5

(2 votes)
  1. Avatar of
    Anonymous

    I like that news

Comments are closed.

Latest

70% Of Bnb Chain Memecoin Investors Are In Profit

News | Editor Choice | Memecoin

70% of BNB Chain Memecoin Investors Are in Profit – CZ’s “Meme Season” Is in Full Swing

The memecoin wave on the BNB Chain is exploding, with over 70% of investors reporting profits as capital floods in — marking the start of the most vibrant “meme season” ever predicted by CZ.

Paypay Acquires 40% Stake In Binance Japan

News | Editor Choice | Policy & Regulations

PayPay Acquires 40% Stake in Binance Japan

The acquisition of a 40% stake in Binance Japan marks a historic milestone for PayPay, paving the way for the convergence of traditional payments and digital assets, and shaping the future of Japan’s digital finance landscape.

Bitcoin Boom Ahead Institutional And Derivatives Data Reveal

News | Bitcoin | Editor Choice

Bitcoin Boom Ahead? Institutional and Derivatives Data Reveal

Market experts believe that Bitcoin (BTC) is in a phase of accumulation rather than topping, predicting a retest before the next explosive breakout.

Bnb Super Cycle – A Massive Rally Or Binance’s Next Big Bubble

News | Altcoin | Editor Choice

BNB Super Cycle – A Massive Rally or Binance’s Next Big Bubble?

Binance’s BNB token is heating up the crypto market with a series of new record highs, but amid the excitement of the so-called “Super Cycle,” many analysts warn it could just be a bubble waiting to burst.

Bitcoin Cools Off After Record Breaking Rally

News | Bitcoin | Editor Choice

Bitcoin Cools Off After Record-Breaking Rally

After a series of record-breaking gains, Bitcoin suddenly slipped more than 2% on Tuesday afternoon as a wave of profit-taking spread and investor caution returned to the crypto market.

Screenshot 2025 09 10 100533