Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Crypto Lending Platform Morpho V2 Brings DeFi Closer to Traditional Finance

14/06/2025

Ethereum Stabilizes After Market Drop – Key MA Reclaim Could Trigger A June Rally

14/06/2025

VanEck, 21Shares, and Canary urge SEC to revert to ‘first to file, first to approve’ standard for crypto ETFs

14/06/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Centralized Entities Now Hold Over 30% of Bitcoin’s Supply: Gemini

    14/06/2025

    US CPI Pushes Bitcoin Price Below $108,000, But Buy Pressure to Drive Recovery

    14/06/2025

    Just 216 Bitcoin holders own over 6 million BTC as market concentration grows

    14/06/2025

    New browser extension lets you instantly price the web in bitcoin

    14/06/2025

    Ethereum Stabilizes After Market Drop – Key MA Reclaim Could Trigger A June Rally

    14/06/2025

    Could BlackRock’s $34.7M Ethereum Buy Signal a Bullish Shift for ETH Price?

    14/06/2025

    Can Ethereum’s Smart Contract Sustain Amidst the Increasing Competition From Rivals?

    14/06/2025

    How Ethereum Is Faring Since Its Major Pectra Upgrade

    14/06/2025

    INJ’s Price Surges Over 5% After Canary Capital Files for a Staked Injective ETF

    14/06/2025

    Shiba Inu’s Shibarium Skyrockets 7,154% as Adoption Hits New Highs

    14/06/2025

    RLUSD Adoption Metric Skyrockets 52%, Here’s Implication for XRP Price

    14/06/2025

    Bitcoin May Lead in Store of Value — But VeChain Leads in Real-World Use

    14/06/2025

    Solsniper Closes NFT Marketplace After 3.5 Years, Shifts Focus to Trading Bot Development

    13/06/2025

    Pudgy Penguins Joins Lufthansa for Real Travel Rewards

    13/06/2025

    Binance, Cristiano Ronaldo Introduce Sixth NFT Drop

    13/06/2025

    OpenSea sunsets ‘Deals,’ other features in OS2 shakeup

    13/06/2025

    Crypto Lending Platform Morpho V2 Brings DeFi Closer to Traditional Finance

    14/06/2025

    Ethereum Stabilizes After Market Drop – Key MA Reclaim Could Trigger A June Rally

    14/06/2025

    VanEck, 21Shares, and Canary urge SEC to revert to ‘first to file, first to approve’ standard for crypto ETFs

    14/06/2025

    INJ’s Price Surges Over 5% After Canary Capital Files for a Staked Injective ETF

    14/06/2025
  • Blockchain

    Metalpha Collaborates with DogeOS

    14/06/2025

    YZi Labs and Plume Unveil $150M Genesis Mainnet

    14/06/2025

    Micro-cap Quantum Resistance Ledger’s QRL token jumps 33% amid quantum concerns for crypto

    14/06/2025

    BNB Chain Expands BNB AI Hack to BNB Hack

    14/06/2025

    Meta Pool Launches Node Studio to Democratize Node Validation on NEAR

    14/06/2025
  • DeFi

    Crypto Lending Platform Morpho V2 Brings DeFi Closer to Traditional Finance

    14/06/2025

    DeFi Adding $5B of Solana Buying Power With New Line of Credit

    14/06/2025

    World Liberty promised AAVE lending six months ago — so where is it?

    14/06/2025

    NodeX Partners with Laika AI to Pioneer AI-Powered DeFi Infrastructure & Web3

    14/06/2025

    Solv Protocol Joins Lista DAO to Unveil $SolvBTC/$USD1 Lending Market

    14/06/2025
  • Metaverse

    Meta Invests $14 Billion in Scale AI to ‘Deepen’ its Work on Superintelligence

    13/06/2025

    US Senators Probe Stablecoin Plans by Facebook Parent Meta

    12/06/2025

    Terminus Forges Alliance with COBOX to Revolutionize Metaverse

    11/06/2025

    DRX Asia Partners With Terminus to Build On Metaverse Ambitions

    11/06/2025

    COBOX and Broken Bound Announce Strategic Partnership Amid Growing Metaverse Integration

    11/06/2025
  • Regulation

    VanEck, 21Shares, and Canary urge SEC to revert to ‘first to file, first to approve’ standard for crypto ETFs

    14/06/2025

    Pump.fun may have loftier goals than building an L1

    14/06/2025

    US Congressmen introduce a bill to initiate the first comprehensive audit of America’s gold reserves

    14/06/2025

    CZ Blasts New York Times Over Alleged TRUMP Memecoin Dinner Smear

    14/06/2025

    Dow Jones, major indices surge on jobs data while Tesla recovers

    14/06/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    How HYPE Surged on Hyperliquid’s Growing Perpetual Futures Stardom

    14/06/2025

    Blazpay Partners with ManusPay to Redefine AI-Driven Crypto Payments

    14/06/2025

    Coinbase Adds 12 Cryptocurrencies for Futures Trading Collateral

    14/06/2025

    Bitcoin Exchange OKX Announces Listing of a New Stablecoin! Here Are the Details

    14/06/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    Why are big games building on Avalanche instead of Ethereum?

    14/06/2025

    Tencent exploring $15B Nexon acquisition, a gaming firm with Web3 investments

    13/06/2025

    Off The Grid active wallets hold steady ahead of Steam launch

    13/06/2025

    ‘FIFA Rivals’ Launches—Why Mythical Games Thinks It’ll Hit Bigger Than ‘NFL Rivals’

    13/06/2025

    946 Exahash—Miners Push Bitcoin to New Computational Heights Despite Pay Drop

    14/06/2025

    Pakistan Announces Investment in Bitcoin Mining Amid Tensions with India! Here Are the Details

    14/06/2025

    Bitcoin Miners Just Had One of Their Best Quarters on Record, JPMorgan Says

    14/06/2025

    Bitcoin Miners Notch Gains as Meta Signs 20-Year AI Deal With Nuclear Plant

    13/06/2025

    Why These Top 8 Crypto Groups Want The Two Bills Merged

    14/06/2025

    OpenAI Challenges Court Order to Preserve User Data in NYT Lawsuit

    14/06/2025

    Brazil Mulls Taxing Cryptocurrency to Offset Financial Transaction Tax Hike

    14/06/2025

    CLARITY Act Set for Review on June 10

    14/06/2025

    Crypto Lending Platform Morpho V2 Brings DeFi Closer to Traditional Finance

    14/06/2025

    Ethereum Stabilizes After Market Drop – Key MA Reclaim Could Trigger A June Rally

    14/06/2025

    VanEck, 21Shares, and Canary urge SEC to revert to ‘first to file, first to approve’ standard for crypto ETFs

    14/06/2025

    INJ’s Price Surges Over 5% After Canary Capital Files for a Staked Injective ETF

    14/06/2025
  • MarketCap
NBTC News
Home»Bitcoin»Bitcoin Macro Index Enters ‘Expansion’, Echoing 400% Bull Run
Bitcoin

Bitcoin Macro Index Enters ‘Expansion’, Echoing 400% Bull Run

NBTCBy NBTC15/11/2023No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


In a detailed market update, Charles Edwards, founder of Capriole Investment, has provided an in-depth analysis of Bitcoin’s current market position, highlighting a pivotal shift to an ‘expansion’ phase in the Bitcoin Macro Index. This transition is particularly noteworthy as it parallels conditions observed prior to historical price surges in Bitcoin’s valuation.

Bitcoin has recently experienced a sharp uptick, ascending from $34,000 to an interim high of $38,000. After a brief period of resistance, the price corrected to approximately $36,500. Edwards highlights this movement as a critical technical victory, with Bitcoin overcoming and holding above the major resistance benchmarks of $35,000 on both the weekly and monthly timeframes.

This consolidation above key resistance levels sets a bullish context in the high timeframe technical analysis, positioning Bitcoin in a strong technical stance according to traditional market indicators. “The recent breakout into the 2021 range offers the best high timeframe technical setup we have seen in years. Provided $35K holds on a weekly and monthly basis in November, the next significant resistance is range high ($58-65K).”

Bitcoin price analysis | Source: Capriole Investments

Bitcoin Macro Index Enters Expansion

The crux of Edwards’ update is the shift in the Bitcoin Macro Index, a complex model synthesizing over 40 metrics encompassing Bitcoin’s on-chain data, macro market indicators, and equity market influences. The index does not take price as an input, thus providing a ‘pure fundamentals’ perspective.

The current expansion is the first since November 2020, and only the third instance since the index’s inception, with the two previous occasions leading to substantial price rallies in the following periods. Edwards elucidates this with a direct quote: “The transition from recovery to expansion is simply the optimal time to allocate to Bitcoin from a risk-reward opportunity for this model.”

A look at the Bitcoin chart reveals that the Bitcoin price rose by a whopping 400% during the last bull run from early November 2020 to November 2021, after the Macro Index entered the expansion phase. The first historical signal was provided by the Macro Index on November 9, 2016, which was followed by a massive bull run of almost 2,600% until Bitcoin reached its then all-time high of $20,000 in February 2018.

Bitcoin Macro Index
Bitcoin Macro Index | Source: Capriole Investments

Short-Term Technicals And Derivatives Market Analysis

In the short term, the technical outlook presents a mixed picture, according to Edwards. The derivative markets are indicating an overheated state, with low timeframe analysis suggesting a retracement could be imminent. Edwards introduces the ‘Bitcoin Heater’ metric, recently launched on Capriole Charts, which aggregate various derivatives market data and quantify the level of market risk based on the open interest and heating level of perpetuals, futures, and options markets.

The below chart shows that most of the time when the Bitcoin Heater is above 0.8, the market corrects or consolidates. “But there are large exceptions to the rule: such as the primary bull market rally from November 2020 through to Q1 2021. […] We should expect this metric to be high more frequently in 2024 (much like Q4 2020 – 2021),” Edwards stated.

Bitcoin Heater
Bitcoin Heater | Source: Capriole Investments

The analyst concluded that the overall trend for Bitcoin remains positive, with major data points indicating a strong bullish scenario. However, he also cautioned about potential short-term risks in the low timeframe technicals and derivatives market. These, according to him, are common in the development of a bull run and could offer valuable opportunities if dips occur.

At press time, BTC traded at $35,626.

Bitcoin price
Bitcoin price re-enters trend channel, 2-hour chart | Source: BTCUSD on TradingView.com

Featured image from Shutterstock, chart from TradingView.com

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Centralized Entities Now Hold Over 30% of Bitcoin’s Supply: Gemini

14/06/2025

US CPI Pushes Bitcoin Price Below $108,000, But Buy Pressure to Drive Recovery

14/06/2025

Just 216 Bitcoin holders own over 6 million BTC as market concentration grows

14/06/2025

New browser extension lets you instantly price the web in bitcoin

14/06/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Crypto Lending Platform Morpho V2 Brings DeFi Closer to Traditional Finance

14/06/2025

Ethereum Stabilizes After Market Drop – Key MA Reclaim Could Trigger A June Rally

14/06/2025

VanEck, 21Shares, and Canary urge SEC to revert to ‘first to file, first to approve’ standard for crypto ETFs

14/06/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.