TechFlow News, March 1: According to a Cointelegraph report, a bottom signal previously observed for Bitcoin in 2023 has reappeared this week. This same signal presaged a 130% price surge in 2024, prompting market speculation about a potential new bull-market inflection point.
Data aggregation platform Swissblock notes that Bitcoin has remained in the “extreme risk” zone for 25 consecutive days—the longest such stretch on record, surpassing the previous peak of 23 days in 2023. Historically, prolonged stays in this zone have often coincided with subsequent pullbacks or bottom formations.
However, the current macroeconomic backdrop differs from that of two years ago. Since August, cumulative inflows into gold ETFs have exceeded those into Bitcoin spot ETFs; the latter have recorded negative rolling 90-day net inflows, currently standing at -$2.06 billion. On inflation, the year-on-year Personal Consumption Expenditures (PCE) index stands near 2.9%, while core PCE approaches 3.0%—showing no clear downward trend and thereby constraining expectations for liquidity expansion.
Analyst Willy Woo stated that any short-term rebound to the $70,000–$80,000 range may encounter renewed selling pressure, as the broader market environment remains bearish.
