Bitcoin Rally Analysis: Market Awaits Positive Spot ETF Inflow or Liquidity Change

IconCryptoNewsTerminal Staff05 Jun, 2024

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Bitcoin Rally Analysis: Market Awaits Positive Spot ETF Inflow or Liquidity Change

Crypto market analyst Jamie Coutts at Bloomberg Intelligence shared his insights on Bitcoin's recent rally. According to Coutts, the rally has been influenced by improved macro and liquidity conditions. However, he cautions that price action and multi-month momentum indicators remain bearish. Coutts emphasizes that Bitcoin's breakout from macro influences requires either a substantial positive spot ETF inflow or a pause in the rally coupled with a shift in global liquidity. Without these factors, Bitcoin's rally may face challenges in sustaining its momentum.