The founder of LookIntoBitcoin, Philip Swift, recently drew attention to the significant increase in global liquidity, which has just hit a new all-time high (ATH). According to Swift, this surge in global liquidity is a crucial indicator of Bitcoin’s potential to rise in the current bull run. The chart he shared revealed that global liquidity had reached $94 trillion and was steadily approaching the $100 trillion mark.
Swift pointed out that the global liquidity level during Bitcoin’s previous all-time high of $69,000 in the 2021 bull run was around $90 trillion. Since then, Bitcoin’s price has surpassed that level, demonstrating a clear correlation between global liquidity and Bitcoin’s price movement. Swift confidently stated that as long as global liquidity continues to rise, Bitcoin’s upward trajectory is inevitable.
Philip Swift referenced the MVRV z-score indicator to support his claim that Bitcoin still has a long way to go after reaching a new ATH of $73,750 in March. He highlighted the potential for Bitcoin to exceed $100,000 before reaching the market top. Swift also mentioned various Bitcoin cycle top indicators, including the delta top, terminal price, and top cap, with values of $137,579, $148,390, and $364,541, respectively.
In addition to Philip Swift’s analysis, other crypto analysts have also weighed in on Bitcoin’s potential price movements. Tarekonchain emphasized the Market Value to Realized Value (MVRV) indicator, suggesting that Bitcoin still has room for growth and could potentially surpass $100,000 in this cycle. Rekt Capital discussed the possibility of a breakout that could lead Bitcoin into a parabolic phase, propelling it to new highs. Standard Chartered Bank even predicted that Bitcoin could reach $100,000 before the US Presidential election in November.
Overall, the increase in global liquidity appears to be a significant factor driving Bitcoin’s price movement in the current bull run. As various indicators and analyses suggest, Bitcoin still has the potential for substantial growth and could potentially surpass $100,000 in the near future. With continued attention to global liquidity levels and market trends, the cryptocurrency market may witness further unprecedented price movements in the coming months.
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