Two weeks ago the picture looked quite encouraging. Bitcoin had recovered from its April lows. ETF inflows were improving. And for the first time in this bear market, Bitcoin was testing its 200-day moving average. That test failed. Since then Bitcoin hasn’t collapsed. In fact, the price is still holding up reasonably well. But underneath the surface, some of the indicators that were supporting the recovery are moving in the wrong direction. And that’s happening at a potentially awkward time. Investors are becoming increasingly concerned about inflation again as oil prices move higher and Treasury yields continue to rise. At the same time, the market is paying close attention to developments in the Middle East and what they could mean for the inflation outlook over the coming months. So before getting caught up in the headlines, let’s look at what the data is telling us about how the market structure has changed and what it means in terms of risk-to-reward balance for Bitcoin right now. Ecoinometrics delivers professional-grade crypto and macro analysis to help institutional investors and serious traders make data-driven decisions. Our team conducts rigorous quantitative research, developing proprietary metrics and institutional-quality visualizations that cut through the noise to reveal key market dynamics. Each newsletter provides clear, actionable insights backed by data, delivered in a concise format that respects your time - five minutes to absorb, but deep enough to inform your investment strategy. Join over 34,000 professional investors and fund managers: Ready? Let’s dig into the data. Bitcoin’s Recovery Has Lost MomentumThe Takeaway...Continue reading this post for free in the Substack app
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