Bitcoin price rallied 1,550% the last time the ‘BTC risk-off’ metric fell this low
Bitcoin price traded at $4,000 the last time the BTC Risk-Off signal fell to its current lows. Is another 1,550% rally in the making?
Key Takeaways:
The Bitcoin Risk-Off signal dropped to 23.7, its lowest since March 2019, indicating low correction risk and a high likelihood of a bullish trend developing.
Despite the recent decline in network activity, bullish macro indicators like the Macro Chain Index (MCI) suggest Bitcoin could soon rally above $100,000.