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Bullish Bitcoin Despite The Price Action

And A Key Risk Factor

Ecoinometrics

Feb 10

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Bitcoin is stuck below $100,000. Nothing much is happening in terms of new fundamental information. No clear trend is emerging.

If that reminds you of the situation in mid-2024, you're not alone.

Yet when you look beyond the price action, conditions are generally bullish. There's just one key point of uncertainty.

Let's talk about that.

The Ecoinometrics newsletter gives you insights from crypto and macro data to help you make better investment decisions.

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Bullish Bitcoin Despite The Price Action

The Takeaway

Bitcoin remains in a mild bullish regime despite showing no clear price trend, an unusual pattern that typically resolves within 38 days.

Institutional sentiment is overwhelmingly bullish, with stable on-chain metrics and positive ETF flows supporting this view.

However, the combination of low unemployment and sticky inflation may force the Fed to maintain hawkish rhetoric, risking a sharp correction in the highly leveraged financial system.

Despite this risk, fundamentals support staying bullish.