Bitcoin as a Macro Signal

Bitcoin has been stuck in a wide range for months, particularly after the October drop that pulled it back from all-time highs into the 80k–95k zone. What stands out is that after making a low near 80k a few weeks ago, Bitcoin hasn’t broken lower. Instead, it has been forming higher lows and higher highs, which is bullish from a trend perspective.

While there’s no obvious technical reason for Bitcoin to rally right now, especially with equities pulling back from highs, Bitcoin often acts as a forward indicator for risk assets. A break back above the 95k range, particularly after the roughly 3k rally following stabilization in Venezuela, raises the probability…

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