Bitcoin price rallied 1,550% the last time the ‘BTC risk-off’ metric fell this low
On May 5, the Bitcoin Risk-Off signal reached a low of 23.7, indicating low correction risk and a high likelihood of a bullish trend, similar to its position in March 2019 when Bitcoin was priced at $4,000. Historical data shows that a similar signal preceded a 1,550% rally to over $68,000 in 2021. The Risk-Off signal integrates six metrics, providing a comprehensive view of market trends. Institutional adoption has increased significantly, with ETFs and public companies now holding 9% of Bitcoin's supply, contributing to price stability. Bitcoin's volatility has decreased substantially, making the market more resilient to capital inflows. The Macro Chain Index (MCI) recently signaled a buy for the first time since 2022, suggesting potential for Bitcoin to exceed $100,000 soon. Despite a decline in network activity and transaction volume, macro indicators remain bullish, indicating possible strategic entry points for long-term investors.
