Is the Bitcoin Bottom In? 2 Analysts Say Yes From Separate Charts
Two independent analysts have concluded that the Bitcoin (BTC) bottom is in, and neither used the others data. Charles Edwards tracks stablecoin liquidity, while the analyst known as Root tracks cycle structure. Both calls arrived within days of each other in early September. Neither analyst predicted a bull run, however. Both argued something narrower, that the conditions defining a bear market have stopped being present. Sponsored Sponsored Caprioles Hedge Ratio Hit Its Bullish Threshold Edwards, founder of Capriole Investments, published his signal on Sept. 4. His Market Hedge Ratio measures the USDT/BTC market cap ratio over a rolling 30 days. The reading fell to -20.42%, touching the -20.78% threshold marked on his chart. A falling ratio indicates capital rotating out of stablecoins and into Bitcoin. Capriole Market Hedge Ratio weekly chart showing the Bitcoin bottom signal Source: Capriole His chart marks roughly nine comparable signals since January 2020. Most preceded rallies, though one signal in October 2021 landed close to a cycle top. “It‘s very hard for bad things to happen to Bitcoin when Capriole’s Market Hedge Ratio is this green. Downside is basically capped in last 5 years until it flips red. Typically this reading means we have week(s) of upside to run.” Sponsored Sponsored Edwards set an explicit invalidation, however.









