Bloomberg Analyst Issues Bitcoin Warning, Says BTC Has Hit ‘Exit Signal’ and Could Go Even Lower

Bloomberg Analyst Issues Bitcoin Warning, Says BTC Has Hit ‘Exit Signal’ and Could Go Even Lower


Bloomberg Intelligence’s 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 “exit signal” around mid-July at a price of $29,500, a level that’s about 11% higher than current prices.

“Our trend model is still out of the market (negative) from $29,500.”

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Source: Jamie Coutts/X

Bitcoin is trading at $26,187 at time of writing.

According to Coutts, Bitcoin is only likely to turn bullish when the level of global liquidity expands.

“Meanwhile 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.”

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