Bitcoin Miner Signal Points to Possible 40 Percent Price Rally

A bullish signal from Bitcoin miners has caught attention in the crypto market, suggesting a potential 40% price rally. According to 10X Research, eight out of ten past instances of this signal ended positively for Bitcoin, with an 80% positive hit rate.

The firm tracked ten previous signals and found that while two led to losses, the median return was 58.6%, with average gains landing near 41%. This pattern has sparked talk of a significant move for Bitcoin in the near term.

Bitcoin's price structure has already started to recover this month, pushing past $78,000 as of writing. The coin added roughly 2% over the past 24 hours alone and has climbed about 24% in total over the past month.