- Samson Mow, a prominent Bitcoin proponent, shares 10 macro indicators influencing Bitcoin’s recovery.
- Key indicators include Bitcoin Spot ETF inflows, hashrate, whale accumulation, and government debt dynamics.
As the Bitcoin (BTC) price gradually shows signs of recovery, prominent proponent Samson Mow has shared a list of macro indicators that could play a crucial role in shaping the future of the major cryptocurrency.
Samson Mow has identified 10 macro-indicators that he believes are pivotal for understanding Bitcoin’s recovery and future price trajectory. At the forefront is the Bitcoin Spot Exchange Traded Fund (ETF) inflows. With BTC ETFs now trading in the U.S., increased inflows could potentially provide a buffer against volatile retail price sell-offs. Mow sees the capital inflow into spot Bitcoin ETF products as a core factor in his projection of Bitcoin reaching $1 million someday.
In addition to ETF inflows, Mow emphasizes the importance of monitoring the network hashrate. The hashrate, currently at a new high, is expected to see higher growth ahead of the next halving event.
Other indicators on Mow’s list include Finex whale accumulation, the 200 Weekly Moving Average (WMA) trend, and a surprising inclusion of Tether (USDT) Asset Under Management (AUM). The stablecoin’s AUM is considered essential as it forms a key liquidity base for Bitcoin.
Comprehensive Bitcoin (BTC) Indicators
Beyond on-chain indicators, Mow also points to broader macroeconomic factors. These include government interest payments on debt, debt GDP ratios, nation-state BTC adoption, real inflation, and M3 Money. The convergence of these indicators is anticipated to have a significant influence on Bitcoin’s long-term price outlook.
As of now, Bitcoin is priced at $41,997.82, reflecting a 1.1% drop in the last 24 hours. Despite consolidating above the $41,000 level, the cryptocurrency is still down 38.9% from its all-time high of $68,789.63. Proponents like Samson Mow are optimistic, with expectations that the forthcoming halving event will complement spot BTC ETF approvals, leading to a dramatic revival in the BTC price.
