There’s a new Bitcoin warning out, and it seems that the most important digital asset has hit the exit signal. Check out the latest reports about this below.

BTC has hit the exit sign

According to Jamie Coutts, a crypto market analyst from Bloomberg Intelligence, Bitcoin is vulnerable to the contracting global liquidity.

Coutts recently posted on the social media platform X, noting that Bitcoin had reached the “exit signal” in mid-July at a price of $29,500, which is now about 11% higher than the present market value.

Coutts further explained that their trend model has remained in the negative territory since $29,500.

Presently, Bitcoin is trading at $26,187. Coutts suggested that Bitcoin’s bullish trend may only return when the global liquidity level increases.

The level of global liquidity has decreased, resulting in a negative impact on Bitcoin’s value. Coutts explains that the US liquidity index has remained stagnant, and without a substantial increase, any signals produced are essentially meaningless.

A policy change from the Federal Reserve could lead to an increase in liquidity, but it is not expected in the near future.

Bloomberg Intelligence’s analyst suggests that the approval of a spot Bitcoin ETF in the US could positively impact the crypto market in the long term.

However, until liquidity levels improve, institutional investors are unlikely to show significant interest in digital assets.

In other recent news, according to Rekt Capital, a popular crypto analyst, Bitcoin (BTC) is currently displaying a traditional technical pattern that suggests a decline in prices.

Rekt Capital informed their 351,000 followers on social media platform X that BTC is close to completing a full double top pattern, having experienced fatigue near the $30,000 mark.

The analyst had previously predicted that if the pattern were to develop, then BTC’s value would likely drop to approximately $22,000.

In order to learn more details about this, we suggest that you check out the original article we shared a while ago.

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