{"id":155768,"date":"2023-09-14T15:01:22","date_gmt":"2023-09-14T09:31:22","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=155768"},"modified":"2023-09-14T15:01:22","modified_gmt":"2023-09-14T09:31:22","slug":"bloomberg-analyst-issues-bitcoin-warning-says-btc-has-hit-exit-signal-and-could-go-even-lower-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bloomberg-analyst-issues-bitcoin-warning-says-btc-has-hit-exit-signal-and-could-go-even-lower-crypto-news\/","title":{"rendered":"Bloomberg Analyst Issues Bitcoin Warning, Says BTC Has Hit \u2018Exit Signal\u2019 and Could Go Even Lower – Crypto News"},"content":{"rendered":"

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Bloomberg Intelligence\u2019s crypto market analyst Jamie Coutts is issuing an alert on Bitcoin, warning that BTC<\/a> is becoming vulnerable to contracting global liquidity.<\/p>\n

Coutts says<\/a> on the social media platform X that Bitcoin hit the market \u201cexit signal\u201d around mid-July at a price of $29,500, a level that\u2019s about 11% higher than current prices.<\/p>\n

\u201cOur trend model is still out of the market (negative) from $29,500.\u201d<\/em><\/p>\n

Source: Jamie Coutts\/X<\/figcaption><\/figure>\n

Bitcoin is trading at $26,187 at time of writing.<\/p>\n

According<\/a> to Coutts, Bitcoin is only likely to turn bullish when the level of global liquidity expands.<\/p>\n

\u201cMeanwhile the global liquidity contraction (money supply and central bank balance sheets) has slowed, but is still deeply negative. Until this reverses, Bitcoin is unlikely to go higher. Likely lower.\u201d<\/i><\/p>\n

\"\"
Source: Jamie Coutts\/X<\/figcaption><\/figure>\n

On the liquidity levels in the US, Coutts says<\/a>,<\/p>\n

\u201cAnd although the US Liquidity index is higher recently, it\u2019s simply whipping around in a sideways range and therefore signals are basically noise, unless there is a meaningful push higher, which would likely only come with a policy change from the Federal Reserve. Not likely in the short term.\u201d<\/i><\/p>\n

\"\"
Source: Jamie Coutts\/X<\/figcaption><\/figure>\n

The Bloomberg Intelligence analyst says<\/a> that while the anticipated approval of a spot Bitcoin exchange-traded fund (ETF) in the US could potentially be a positive catalyst over the long term for crypto markets, demand for digital assets from institutional investors is unlikely to be significant until liquidity rises.<\/p>\n

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Bloomberg Intelligence\u2019s crypto market analyst Jamie Coutts is issuing an alert on Bitcoin, warning that BTC is becoming vulnerable to contracting global liquidity. Coutts says on the social media platform X that Bitcoin hit the market \u201cexit signal\u201d around mid-July at a price of $29,500, a level that\u2019s about 11% higher than current prices. \u201cOur […]<\/p>\n","protected":false},"author":2,"featured_media":155769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-155768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/155768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=155768"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/155768\/revisions"}],"predecessor-version":[{"id":155771,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/155768\/revisions\/155771"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/155769"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=155768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=155768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=155768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}