3 Reasons Bitcoin Could Enter a Multi-Month Medium-Term Uptrend

Several macroeconomic and on-chain indicators suggest Bitcoin is poised for a multi-month medium-term recovery. The first reason is the correlation with the US ISM Manufacturing PMI, which recently expanded for a second month, signaling increased investor risk appetite conducive to capital flowing into Bitcoin. The second reason is the impending "golden cross" on Bitcoin's Inter-Exchange Flow Pulse (IFP) indicator, which measures flows between spot and derivatives exchanges; historically, this signal precedes strong bullish phases. The third factor is the rare occurrence of five consecutive monthly red candles for Bitcoin, suggesting selling pressure is nearing exhaustion, similar to the period before a major 300% surge in 2019. While these signals point toward a bottoming phase, analysts note that a deeper decline is still possible, with March's price action depending on whether the $62,300 support or $79,000 resistance holds.

(Source：BeInCrypto)