BTC Bulls Emerge as IFP Forms Golden Cross
Bitcoin is showing two bullish signals according to recent data. The first signal comes from the Inter-exchange Flow Pulse (IFP) indicator, which has formed a golden cross with its 90-day moving average, a trend historically linked to significant price rallies. This indicator had been bearish since September 12 but has flipped back to a bullish trend.
The second signal is that 81% of the available BTC supply has not moved in more than six months. While this level of dormant supply has led some to speculate about a potential supply shock, it's essential to note that dormancy does not guarantee a price outcome. The next move depends on whether demand returns strongly enough to absorb the available supply.
Historically, Bitcoin has recorded significant rises when the IFP produces bullish signals. Currently, derivatives exchange inflows are above the 90-day average, which could lead to stronger upward movement than the current trend.