TechFlow news, according to cryptocurrency media Cointelegraph analysis, despite BTC price volatility and a five-month low, the following six reasons suggest BTC may have already bottomed out:
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Bullish divergence: A divergence between falling prices and rising RSI suggests weakening selling pressure.
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Technical indicators: Bullish hammer pattern and oversold RSI signal potential rebound.
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Rate cut expectations: Wall Street anticipates rate cuts in September, which is positive for Bitcoin.
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ETF capital inflows: Spot Bitcoin ETFs are attracting substantial funds, indicating renewed investor confidence.
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Monetary supply expansion: Rising U.S. M2 money supply provides upward clues for BTC.
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Miner capitulation: Declining hash rate, miners exiting or scaling back operations, could stabilize BTC price.
