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Este artículo también está disponible en español. As Bitcoin price valuation inches closer to the $65,000 mark, the asset has grabbed the attention of market analysts, with one recently highlighting a key indicator that now suggests a potential further recovery in BTC’s price. Particularly, according to a recent post on the CryptoQuant Quicktake platform by an analyst under the pseudonym ‘Darkfost,’ the Bitcoin Stock-to-Flow (S2F) reversion chart is now showing a major buy signal for Bitcoin. Related Reading S2F Signal Prime Buy Opportunity The S2F model is widely used to forecast Bitcoin’s price by measuring its scarcity. It indicates whether the market is leaning towards a buy or sell zone based on its supply rate. Darkfost explained that the S2F reversion chart is now signalling a potential buying opportunity, with the SF ratio dipping below 1, which represents a green zone. Bitcoin S2F reversion chart. | Source: CryptoQuant This zone suggests that Bitcoin may be undervalued compared to its historical trend, making it a potential time to accumulate BTC. The analyst elaborated that the last time Bitcoin entered this buy zone was in June and September of 2023, followed by notable price recoveries. Investors who had taken positions during these periods saw favorable returns as Bitcoin’s price rallied in the following months. Notably, the S2F model’s predictive nature has often been a major tool for traders looking to capitalize on long-term Bitcoin trends. Asides its movement below 1, when the SF ratio climbs above 1, it signals a red zone, or profit-taking opportunity. Bitcoin Price Action And Key Technical Levels In addition to the S2F signal, Bitcoin’s price action in the past few days has also resulted from recent macroeconomic events, particularly the US Federal Reserve’s interest rate cut. Following the rate reduction by 50 basis points on Wednesday, Bitcoin…

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Filed under: News - @ September 21, 2024 1:32 am