Samson Mow, a prominent supporter of Bitcoin (BTC), has released a list of macro indicators that he monitors for the leading cryptocurrency. The price of BTC is now steadily rising.
Notable Bitcoin (BTC) indicators
Samson Mow provided ten indications in all that are related to important macro events and pricing outlooks to be aware of. He listed the first item on the list as Bitcoin Spot Exchange Traded Fund (ETF) inflows. More inflows might perhaps mitigate the unpredictable retail price sell-offs now that Bitcoin ETFs are trading in the United States.
Samson Mow believes that the infusion of capital into spot Bitcoin ETF products will determine whether or not the price of BTC reaches $1 million in the future. In addition, he mentioned that it’s important to keep an eye on the network hashrate. Higher increase is anticipated in advance of the next halving event, since this indicator has recently been sailing to all-time highs.
The 200 WMA trend and the Finex whale accumulation measure are the next items on his list. Remarkably, he identified the Tether (USDT) Asset Under Management (AUM) as a crucial metric to monitor, given that the stablecoin serves as the primary source of liquidity for the cryptocurrency.
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In addition to these on-chain metrics, Samson Mow listed actual inflation, M3 Money, nation-state acceptance of Bitcoin, the government’s interest payments on debt, and debt GDP ratios. There is a confluence point for each of these variables that will impact the long-term prognosis for Bitcoin prices.
Bitcoin price outlook
Samson Mow’s listing of macro indicators comes at a critical moment, with the price of Bitcoin currently at $41,997.82 after falling 1.1% in a single day. Although the price of the coin has stabilised at $41,000, it has not yet seen the kind of parabolic rise that would be expected given the approvals of the spot Bitcoin ETF.
Bitcoin has now dropped 38.9% from its all-time high (ATH) of $68,789.63 to its current price level. Supporters like Samson Mow believe that the next halving event will work in tandem with the spot BTC ETF products to dramatically boost the price of Bitcoin.
