'Perfect scenario' for capitulation? Here are five things to consider with BTC this week.
BTC/USD 1-day candle chart . Source: TradingViewThe week in macro looks decidedly calm compared to the start of February, with less in the way of data and more by way of commentary set to define the mood.
Ahead of fresh key data next week, talk in analytics circles is on how the Fed might transition from a restrictive to accommodative economic policy and when., not everyone believes that the U.S. will pull off the “soft landing” when it comes to lowering inflation and will instead experience a recession.
Franzen acknowledged that while recession was not currently an apt description of the U.S. economy, conditions could still worsen going forward, referencing three such cases in past years. “However the decider will be the Valentine's Day CPI - and we think there are upside risks to that release.”Miner"relief" contrasts with BTC sales
“After 191 days in capitulation zone, the Puell Multiple has rallied. Showing relief for miners via increased revenue and likely reduced sell pressure,” he commented.NVT suggests volatility will kick inOf interest this week is Bitcoin’s network value to transaction signal, which is now at levels not seen inNVT signal measures the value of BTC transferred on-chain against the Bitcoin market cap.
In a glimmer of hope, on-chain research firm Santiment notes that the number of smaller Bitcoin wallets has ballooned this year.Since BTC/USD crossed the $20,000 mark once more on Jan. 13, 620,000 wallets with a maximum of 0.1 BTC have reappeared.
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