Stablecoin

bullish

Bitcoin

Impact

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/could-bitcoin-price-surge-in-the-coming-weeks" data-wpel-link="internal" rel="noopener noreferrer nofollow">Could Bitcoin Price Surge in the Coming Weeks?</a><br></p>
<p style="text-align: justify">Recent observations by David Puell from ARK Invest highlight three encouraging signs for <a href="https://en.bitcoinhaber.net/bitcoins-path-to-new-heights-analyst-predicts-upcoming-price-milestones" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price trajectory. Puell pointed out that a significant market event in recent weeks signals a potentially bullish trend for Bitcoin, reinforcing the idea that the cryptocurrency may be on the verge of a rally.</p>
<h2 id="what-indicators-suggest-bitcoin-s-growth">What Indicators Suggest Bitcoin’s Growth?</h2>
<p style="text-align: justify">Puell noted that Bitcoin has rebounded from its 200-day moving average, suggesting an influx of short-term buyers. He commented, “Bitcoin has bounced off its 200-day moving average and is breaking the expanding wedge that has developed since March.”</p>
<h2 id="how-does-money-supply-impact-bitcoin">How Does Money Supply Impact Bitcoin?</h2>
<p style="text-align: justify">The Stablecoin Supply Ratio (SSR) was also analyzed, showing a low ratio that indicates greater potential for stablecoin purchases of Bitcoin. Additionally, Puell observed, “The Stablecoin supply ratio oscillator shows that Bitcoin is in an oversold condition at levels not seen since mid-2022.”</p>
<p style="text-align: justify">Puell also emphasized the increasing global money supply (M2), suggesting that this could positively impact Bitcoin. He noted a strong recovery in Chinese stocks, indicating that increased liquidity may benefit Bitcoin, which is currently trading around $66,260.</p>
<ul>
 <li>Bitcoin’s bounce from the 200-day moving average indicates strong market support.</li>
 <li>A low SSR hints at a favorable environment for Bitcoin purchases.</li>
 <li>The rise in global money supply could serve as a catalyst for further price increases.</li>
</ul>
<p style="text-align: justify">While these indicators provide useful insights into Bitcoin’s potential for price appreciation, it remains important to approach investment decisions with caution, considering both market volatility and inherent risks.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/could-bitcoin-price-surge-in-the-coming-weeks" data-wpel-link="internal" rel="noopener noreferrer nofollow">Could Bitcoin Price Surge in the Coming Weeks?</a></h5>

Could Bitcoin Price Surge in the Coming Weeks?

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