Cryptocurrency analyst Sweep revealed that the 20th Bitcoin Indicators at the same time, they flashed bullishly, providing a bullish outlook for the leading cryptocurrency. Based on this development, the analyst predicted that BTC could surge to $150,000, setting a recent all-time high (ATH).

20 Bitcoin indicators point to a rise to $150,000

In Post XSweep found that 20 independent indicators are all bullish at the same time. He noted that this only happened three times Bitcoin historyand each time there was an augment of 300%. The first of these indicators is the global M2 money supply, which just hit an all-time high (ATH), while BTC continues to lag.

The analysis further revealed that the dollar index is at 100, exactly at the level that previously preceded 500 percent increases twice. Another bullish indicator is this BTC exchange reserves dropped to their lowest level in 7 years, and only 2.1 million BTC remained on all cryptocurrency exchanges. The decline in these currency reserves came as whales bought 270,000 BTC in 30 days, representing the largest wave of accumulation since 2013.

Another bullish indicator is that the Fear and Greed index has been stuck in extreme fear for 46 straight days, currently at 12. Bitcoin’s weekly RSI printed 27.48, the third time ever this low. In addition, financing rates have been negative for weeks, with investors paying fees to tiny BTC.

Meanwhile, Sweep also mentioned that the stablecoin supply has reached an all-time high of $320 billion and the supply remains on the sidelines. The miners have been capitulating for 4 months in a row, which is the longest period in this cycle. At the same time, mixing speed is making up for losses after a 22% decline.

Macro angle for BTC

Sweep mentioned bullish macro indicators such as Fed ends quantitative tighteningreducing the value of repo transactions from $2.5 trillion to almost zero and resuming purchases of treasury bills. Moreover, consumer confidence is at its second lowest level on record over 70 years, while ISM production is rising again for the first time in 40 months.

Another bullish indicator is that Bitcoin ETF Flows in March they achieved positive results and the inflow of funds amounted to USD 2.5 billion. SoSoValue data shows that BTC ETFs are on track to end a streak of four consecutive months of outflows. Sweep mentioned that BTC just printed 5 consecutive red monthly candles, which only happened once and led to a 308% gain later. Finally, 92% of short-term bond holders are underwater.

The analyst noted that the last time this many signals were consistent was in November 2022, when Bitcoin was trading at $16,000. BTC has since reached a recent ATH of $126,000.

At the time of writing, Bitcoin is trading at around $67,500, down over the past 24 hours, according to data from CoinMarketCap.

Featured image from Getty Images, chart from Tradingview.com