“If it weren’t for the tariff situation, my price target would have been much higher,” Alden said. Still, she believes Bitcoin will close the year at a higher level than today.

Liquidity Could Be the Key Catalyst for Bitcoin

According to Alden, a strong liquidity boost in financial markets is essential for Bitcoin to reach more optimistic price targets. This scenario might be triggered by a major disruption in the U.S. bond market, prompting the Federal Reserve to implement yield curve control or initiate another round of quantitative easing (QE).

She also noted that crypto markets are more prone to volatility due to their 24/7 trading structure, unlike traditional financial markets with limited hours. “If uncertainty builds over the weekend, some investors choose to sell their Bitcoin on Sunday to prepare for Monday,” Alden explained.

Bitcoin May Decouple from Nasdaq

Alden emphasized that Bitcoin doesn’t necessarily have to move in sync with the tech-heavy Nasdaq 100 index. In her view, events that damage Nasdaq’s profit margins but do not impact global liquidity could allow Bitcoin to chart its own course.

To illustrate, she pointed to the global market environment between 2003 and 2007, when the U.S. dollar remained weak and capital flowed into emerging markets, commodities, and gold. Alden believes a similar market cycle could once again favor Bitcoin even if U.S. equities underperform.

Strong Correlation Between Bitcoin and Global Liquidity

In a previous research report, Alden noted that Bitcoin moved in the same direction as global M2 money supply 83% of the time over any given 12-month period. The study labeled Bitcoin as the “strongest barometer of global liquidity”, outperforming assets like the S&P 500 (SPX), gold, and global equity indices (VT) in terms of correlation with liquidity.

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Bitcoin Bullish Pattern Confirmed

Crypto analyst Jelle highlighted that the price recovery from a dip below the psychological $60,000 level has locked in a “higher low” (HL), a bullish signal when combined with a “higher high” (HH) established in late September when Bitcoin broke above $65,000. This pattern is seen as a strong indicator of an uptrend continuing.

Golden Cross in Play for Bitcoin

Another analyst, Titan of Crypto, pointed to an upcoming golden cross in the weekly chart, a bullish crossover where the 50-day moving average surpasses the 200-day moving average. Historically, this pattern has preceded significant rallies, including last year’s 145% surge.

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Both analysts agree that the $60,000 level is a crucial support, and the locked-in bullish pattern suggests that Bitcoin could continue its upward trajectory, with increased optimism among traders and investors.

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The post Analysts Say Bitcoin Uptrend Increased! appeared first on Coin Engineer.

The stablecoin minting rate, in particular, is considered one of the clearest indicators of Bitcoin buyer activity. However, this indicator has cooled significantly in the last seven days.

“Institutions that channel fiat money into crypto via the Circle benefited from the drop below $55,000 but do not seem very keen to enter the market at current levels,” Markus Thielen, research director at 10x Research, said in a report published on August 16.

Institutional Investors Expect a Bitcoin Price Drop

Bitcoin has been trading below $60,000 for the past 24 hours. The indicator measures the creation and issuance of new stablecoins, indicating how much US dollars are being converted into crypto.

Thielen noted that stablecoin inflows are a significant sign that fiat money is being converted into crypto, often into coins like BTC or ETH.

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The situation was different in early August when Bitcoin fell to $49,472. Thielen noted that this metric saw a sharp increase to $2.7 billion on August 6, but has since fallen to $1.4 billion, with Bitcoin still trading below the critical $60,000 level.

Currently, Bitcoin is trading at $58,149, down 0.35% over the past 24 hours. Meanwhile, futures traders see potential for further price declines in the asset, with the long-to-short ratio slightly tilted toward short positions at 50.88% over the past 24 hours.

The Crypto Fear and Greed Index dropped to a “Fear” score of 27 at the time of publication.

Despite the recent correction to five-month lows, the Bitcoin bull run is expected to last another year. Based on Bitcoin’s rates in previous cycles, the bull run is estimated to last until the third quarter of 2025, according to a report released by Bybit and BlockScholes.

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