Since late 2023, the metric is printing lower highs while price prints higher highs, creating a “bearish divergence.” While common to previous bull markets, a potential implication is that BTC/USD has already put in a long-term peak.“Not great,” Edwards reacted while reposting a print of the Index uploaded to X by another user. “But...when Bitcoin Macro Index turns positive, I won't be fighting it.”Capriole Bitcoin Macro Index.
The Bitcoin Macro Index, created by Capriole in 2022, uses machine learning to analyze data from a large number of metrics that founder Charles Edwards says “give a strong indication of Bitcoin’s relative value throughout historic cycles.”“The model only looks at on-chain and macro-market data.
Related: Bitcoin price prediction markets bet BTC won't go higher than $138K in 2025In one of its “Quicktake” blog posts this week, onchain analytics platform CryptoQuant referenced four onchain metrics currently in a state of flux.“All of these metrics suggest that Bitcoin is experiencing significant turbulence in the short to mid-term,” contributor Burak Kesmeci commented.“However, none of them indicate that Bitcoin has reached an overheated or cycle-top level.”Bitcoin IFP chart (screenshot).
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Author / Journalist: Cointelegraph by William Suberg
The story "'Bitcoin Macro Index' bear signal puts $110K BTC price return in doubt" has 406 words across 16 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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