3 Bitcoin price metrics suggest Sept. 9’s 10% pump marked the final cycle bottom

3 Bitcoin price metrics suggest Sept. 9’s 10% pump marked the final cycle bottom

Https://cb.run/BSnP 3 Bitcoin price metrics suggest Sept.

9’s 10% pump marked the final cycle bottom The correlation between Bitcoin (BTC) and stock markets has been unusually high since mid-March, meaning the two asset classes have presented near-identical directional movement.

This data might explain why the 10% rally above $21,000 is being dismissed by most traders, especially considering SP 500 futures gained 4% in two days.

However, Bitcoin trading activity and the derivatives market strongly support the recent gains.

Curiously, the current Bitcoin rally happened a day after the White House Office of Science and Technology Policy released a report investigating the energy usage associated with digital assets.

The study recommended enforcing energy reliability and efficiency...