With the price of Bitcoin (BTC) gradually reaching recovery mode, big believer Samson Mow has shared a list of macro indicators he is keeping an eye on for the leading cryptocurrency.
Notable Bitcoin (BTC) Indicators.
Samson Mow has shared a total of 10 indicators related to key price outlooks and macro events to watch out for. He named Bitcoin Spot Exchange Traded Fund (ETF) inflows as top of the list. With Bitcoin ETFs now trading in the US, increased inflows could help cushion erratic sell-offs in retail prices.
Samson Mow’s main projection that the price of BTC will one day hit $1 million depends on the inflow of capital into Bitcoin spot ETF products. Beyond that, he noted that it’s also worth keeping an eye on the network’s hashrate. With this metric reaching a new high in recent times, higher growth is expected ahead of the next halving event.
Next on his list is the Finex whale accumulation metric and the 200 WMA trend. Surprisingly, he listed Tether (USDT) Assets Under Management (AUM) as an essential indicator to keep an eye on as the stablecoin forms the key liquidity base for the coin.
These are the #Bitcoin macro indicators I’m looking at:
⬆️ Inflows into ETFs
⬆️ Hashrate
⬆️ Finex whale accumulation
⬆️ Trending 200 WMA
⬆️ Tether USDt AUM
⬆️ Payment of government interest on debt
⬆️ Debt-GDP ratios
⬆️ Bitcoin adoption nationwide
⬆️ Real inflation
⬆️ M3 money— Samson Mow (@Excellion) January 28, 2024
In addition to these on-chain indicators, Samson Mow also cited government interest payments on debt, debt-to-GDP ratio, Bitcoin adoption by nation states, real inflation, and the M3 coin. All these indicators have a point of convergence to influence the long-term BTC price outlook.
Bitcoin Price Outlook
This list of macro indicators from Samson Mow comes at a crucial time, when the price of Bitcoin is worth $41,997.82 with a decline of 1.1% in 24 hours. While the coin has consolidated above the $41,000 level, it has yet to register enough parabolic growth to commensurate with expectations arising from spot approvals of Bitcoin ETFs.
At the current price level, Bitcoin is now down 38.9% from its all-time high (ATH) of $68,789.63. For stalwarts like Samson Mow, the upcoming halving event will complement BTC spot ETF products to help revive the price of Bitcoin in the most dramatic way yet.
