What does the macro outlook for Bitcoin look like?

It’s easy to get caught up in the daily movements of Bitcoin’s ￰0￱ if you zoom out, you will see a straight-forward 100% increase in just 12 ￰1￱ this most recent rally above $120,000 is not just a crypto story. It’s also a macro ￰2￱ we are witnessing from a macro perspective right now, is a perfect cocktail of institutional adoption, favorable policies, and currency ￰3￱ Fed’s pivot, a weaker dollar, and relief in real yields have given fuel to risk assets ￰4￱ there are still many catalysts that could swing Bitcoin’s price aggressively on either ￰5￱ are important stress points worth tracking if you want to understand where Bitcoin might go ￰6￱ ETFs and the Fed matter right now The cleanest read on Bitcoin demand today comes from spot ETFs ￰7￱ a slow summer, flows turned positive again in late September.

Multi-day inflows across several issuers coincided with the latest price leg ￰8￱ futures volumes or offshore exchange data, ETF flows are transparent, regulated, and increasingly ￰9￱ Bitcoin sees steady increases in its price, it’s because these inflows validate the ￰10￱ policy sets the ￰11￱ Federal Reserve cut its policy rate by 25 basis points in September to 4.00–4.25% and softened its ￰12￱ shift from restrictive to easing bias marked the end of a long squeeze on ￰13￱ after rising to painful highs in 2023, real yields are also finally ￰14￱ US 10-year TIPS yield is now around 1.77%, down from the summer ￰15￱ dollar also weakened , falling close to 10% this year, with the DXY index hovering around 98.