May 3, 2025
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Bitcoin Surges Over 15% Towards $100,000 Amid Positive Market Indicators
Bitcoin has gained over 15% in the last two weeks, reaching a market price of $97,559, approaching the $100,000 psychological level. This uptick may signal a turning point for investor sentiment.
Market Indicators Suggest Potential Bull Run
- Bitcoin's miner cost of production is highlighted as an indicator of market strength.
- Historical trends show Bitcoin bottoms when its market price nears or dips below mining costs.
- Long-term holder supply indicates strong investor conviction; about 150,000 BTC were added by long-term holders in the past month.
- This accumulation during price consolidation typically precedes upward price movement.
- Fewer holders are exiting their positions between $80,000 and $100,000, reducing available supply.
Liquidity Trends Support Bullish Outlook
- Global fiat liquidity is identified as a key factor influencing Bitcoin's price dynamics.
- Access to Bitcoin through ETFs and institutional investments has increased demand-side liquidity.
- Higher liquidity is correlated with potential upward movements in Bitcoin's price.
- Breedlove emphasizes that external factors like liquidity and institutional adoption are significant alongside Bitcoin's fixed supply and predictable halving events.
More dollars in the system means more potential bidders. Bitcoin is highly correlated to fiat liquidity.
