The founder of LookIntoBitcoin, Philip Swift, recently pointed out the importance of global liquidity reaching an all-time high. He emphasized that this could be a crucial factor in driving Bitcoin’s price surge in the current bull run.
Swift’s analysis revealed that global liquidity had surpassed $94 trillion, approaching the $100 trillion mark. This significant increase in liquidity could potentially lead to new all-time highs for Bitcoin. In the past, global liquidity was around $90 trillion when Bitcoin reached its previous ATH of $69,000. The correlation between global liquidity and Bitcoin’s price movement was evident as Bitcoin’s price rose above its previous ATH after the surge in global liquidity.
Swift suggested that Bitcoin still has room for growth after hitting a new ATH of $73,750 in March. He referenced the MVRV z-score indicator, indicating that Bitcoin was still undervalued. Based on this analysis, Swift predicted that Bitcoin could surpass $100,000 before reaching the market top. Additionally, he highlighted key cycle top indicators such as delta top, terminal price, and top cap, which pointed towards potential price levels of $137,579, $148,390, and $364,541, respectively.
Other crypto analysts, such as Tarekonchain and Rekt Capital, also shared their perspectives on Bitcoin’s price potential. Tarekonchain emphasized the significance of the Market Value to Realized Value (MVRV) indicator, suggesting that Bitcoin still had room to grow and could potentially exceed $100,000 in this cycle. Rekt Capital highlighted the possibility of a breakout in Bitcoin’s price, which could propel it into a parabolic phase, leading to new highs and potentially surpassing $100,000.
Standard Chartered Bank even predicted that Bitcoin could reach $100,000 before the US Presidential election in November, indicating a widespread optimism surrounding Bitcoin’s price potential in the current market climate.
The surge in global liquidity and various key indicators suggest a positive outlook for Bitcoin’s price trajectory in the current bull run. With multiple analysts and institutions predicting new highs and potential price levels above $100,000, it seems that Bitcoin’s upward momentum is fueled by both internal market dynamics and external factors.