when

<ul>
 <li>Willy Woo’s analysis highlights bullish and bearish factors influencing Bitcoin’s price movements.</li>
 <li>Increased BTC on exchanges and the upcoming ETH ETF could pressure Bitcoin’s price.</li>
 <li>Favorable global liquidity and miner profitability boost Bitcoin’s bullish outlook.</li>
</ul>
<p>Understanding the factors that influence <a href="https://cryptonewsland.com/financial-expert-predicts-bitcoin-price-could-triple/" rel="noopener noreferrer nofollow">BTC’s price </a><a href="https://cryptonewsland.com/financial-expert-predicts-bitcoin-price-could-triple/" target="_blank" rel="noopener noreferrer nofollow">movement</a> is the first step toward successful trading or investment. Willy Woo’s recent X post – below, provides a detailed analysis of Bitcoin’s current macro signals, both bullish and bearish.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Here's the 5 macro signals I'm looking closely at right now for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>.<br><br>3 bullish, 2 bearish…</p>— Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1815590860064788556?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 23, 2024</a>
  </blockquote>
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</figure>
<h2 class="wp-block-heading" id="h-bullish-signals-nbsp">Bullish Signals&nbsp;</h2>
<p><a href="https://x.com/woonomic?t=wnyyr7W2AhvK39fVlMtC_A&amp;s=09" rel="noopener noreferrer nofollow">Willy </a><a href="https://x.com/woonomic?t=wnyyr7W2AhvK39fVlMtC_A&amp;s=09" target="_blank" rel="noopener noreferrer nofollow">Woo</a> begins by highlighting that miners’ capitulation has ended, a historically reliable bullish indicator for Bitcoin. This recovery is further supported by the hash rate increase. Woo explains that such hash rate recoveries often precede price increases.</p>
<p>Further reinforcing the bullish outlook is the <a href="https://www.coinglass.com/pro/i/PM" target="_blank" rel="noopener noreferrer nofollow">Puell</a><a href="https://www.coinglass.com/pro/i/PM" rel="noopener noreferrer nofollow"> Multiple</a>, an indicator measuring miners’ relative profitability. Woo points out that macro bottoms in Bitcoin typically occur when profitability is at its lowest.&nbsp;</p>
<p>Moreover, the halving event, which reduces miner earnings by 50%, usually leads to a significant bull run. He notes that miners are now becoming more profitable, making it an opportune time to invest in mining stocks.&nbsp;</p>
<p>Additionally, the broader setup in global liquidity is favorable for Bitcoin. Traditional finance tends to buy risk-on assets like Bitcoin when liquidity expands.</p>
<h2 class="wp-block-heading" id="h-bearish-signals-nbsp">Bearish Signals&nbsp;</h2>
<p>On the bearish side, Woo mentions the increase in coins entering spot exchanges, which could exert selling pressure. Specifically, 50,000 BTC from Mt. Gox has been sent to Kraken, a move that appears to be prompting other holders to send their coins to exchanges as well.&nbsp;</p>
<p>Another potential bearish factor is the imminent launch of the ETH spot ETF. This could result in some capital currently in <a href="https://cryptonewsland.com/record-trading-volumes-on-day-1-of-spot-btc-etf-launch/" rel="noopener noreferrer nofollow">BTC </a><a href="https://cryptonewsland.com/record-trading-volumes-on-day-1-of-spot-btc-etf-launch/" target="_blank" rel="noopener noreferrer nofollow">ETFs</a> rotating into the new ETH ETF.&nbsp;</p>
<p>Woo acknowledges a tug-of-war between demand and supply factors but believes that the bullish signals currently outweigh the bearish ones. He suggests that the end of miners’ capitulation, improving miner profitability, and the positive global liquidity setup are strong indicators of a potential bullish trend for Bitcoin soon.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also&nbsp;</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/woo-x-introduces-first-tokenized-t-bills-for-retail-investors/" rel="noopener noreferrer nofollow">Woo X Introduces First Tokenized T-Bills for Retail Investors</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-miner-capitulation-continues-as-long/" rel="noopener noreferrer nofollow">Bitcoin Miner Capitulation Continues as Long-Term Bullish Outlook Remains</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-miner-capitulation-at-yearly-high-similar-to-pre-bull-runs/" rel="noopener noreferrer nofollow">Bitcoin Miner Capitulation at Yearly High Similar to Previous Pre-Bull Runs</a></li>
 <li><a href="https://cryptonewsland.com/major-capitulation-event-shakes-crypto-market/" rel="noopener noreferrer nofollow">Major Capitulation Event Shakes Crypto Market, When Will Bitcoin Price Turn to Recovery Phase?</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-miners-face-sustained-capitulation-amid-falling-prices/" rel="noopener noreferrer nofollow">Bitcoin Miners Face Sustained Capitulation Amid Falling Prices</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/5-signals-shaping-bitcoins-trajectory/" rel="noopener noreferrer nofollow">From Miner Capitulation to Global Liquidity: 5 Signals Shaping Bitcoin’s Trajectory</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

From Miner Capitulation to Global Liquidity: 5 Signals Shaping Bitcoin’s Trajectory

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