The founder of LookIntoBitcoin, Philip Swift, recently brought attention to the significant increase in global liquidity, marking 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 global liquidity has now reached $94 trillion, inching closer to the $100 trillion milestone. Swift emphasized that this trend could set the stage for new all-time highs for Bitcoin.
When Bitcoin reached its previous ATH of $69,000 during the 2021 bull run, global liquidity was around $90 trillion. Since then, Bitcoin’s price has surpassed that level, further establishing the connection between the global liquidity indicator and Bitcoin’s performance. Swift expressed confidence in Bitcoin’s upward trajectory, stating that as long as global liquidity continues to trend upwards, Bitcoin’s rise is inevitable.
Swift pointed out that Bitcoin still has room to grow, despite hitting a new ATH of $73,750 in March. Referring to the MVRV z-score indicator, which indicates that Bitcoin is still undervalued, Swift speculated that Bitcoin could exceed $100,000 before reaching the market top. He also mentioned key cycle top indicators, such as the delta top, terminal price, and top cap, which are currently projected at $137,579, $148,390, and $364,541, respectively.
In line with Swift’s observations, crypto analyst Tarekonchain highlighted the Market Value to Realized Value (MVRV) indicator, suggesting that Bitcoin still has room to grow in this cycle. Tarekonchain predicted that Bitcoin could achieve new highs and potentially surpass $100,000. Additionally, crypto analyst Rekt Capital raised the possibility of Bitcoin breaking out soon, entering a “parabolic phase” that could propel it to new highs. Standard Chartered Bank also weighed in on the conversation, forecasting that Bitcoin could reach $100,000 even before the US Presidential election in November.
Overall, the current surge in global liquidity presents a promising outlook for Bitcoin’s future performance. As various indicators and analysts point towards further growth and potential new highs, it is evident that Bitcoin continues to capture the attention of investors and analysts alike.
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