Bitcoin macro indicator that predicted 2022 bottom flashes 'buy signal'

The indicator is making a strong case for a Bitcoin price rally toward $100,000 and higher, helped further by growing bullish signals from the futures market.

Macro Chain Index issues first buy signal since 2022, hinting at a new Bitcoin bull run.

RSI crossover on the MCI aligns with past cycle bottoms that preceded 500%+ BTC rallies.

Bitcoin price recovers from $74K to $95K amid rising open interest and positive funding rates.

A key Bitcoin

BTC

$94,391

indicator that accurately signaled the 2022 market bottom has just flashed another buy signal, suggesting the cryptocurrency may be entering a new bull phase.

Bitcoin metric hints at “absolute bottom”

Dubbed the Macro Chain Index (MCI), the indicator is a composite of several long-term on-chain and macroeconomic metrics.

It analyzes factors such as accumulation behavior, network activity, and supply trends, helping identify whether Bitcoin is undervalued or overvalued relative to its historical cycle position.

The most important part of the current chart is the RSI (Relative Strength Index) of the MCI (purple). In April, the RSI crossed above its 52-week moving average (yellow), which has historically confirmed the start of Bitcoin bull runs.

2015 ahead of Bitcoin’s surge to $20,000, in 2019 before the run to $65,000, and in late 2022 just before BTC bottomed near $15,500.