Key control
The United States Treasury Performance Curve Differential shows an investment pattern that can directly affect the price of Bitcoin. Global liquidity has experienced a slight change, even when Bitcoin and the general capitalization of cryptocurrencies continue to increase.
In recent days, the global capitalization of the cryptocurrency market has registered notable liquidity tickets.
After weeks of decline that pushed it below the milestone of $ 4 billion, the market is on the road to recover this level, of $ 3.88 billion at the time of publication.
Bitcoin [BTC] Maintain the domain with more than 50% of this assessment. Analysts suggest that the asset could see more tickets as global liquidity continues to change.
The performance could decide the destination of Bitcoin
Macro sentiment continues to play a crucial role in Bitcoin’s performance, according to new ideas of Alphractal.
The propagation of the United States Treasury Performance curve at 10 years, a key indicator that often used to forecast the S&P 500 address, now shows a historically significant configuration. Its changes, both positive and negative, have constantly indicated broader trends in the sharing market.
Historically, when this propagation becomes positive, it has often preceded bears markets in the S&P 500.
At present, propagation is close to a possible positive flip in the table, suggesting that the S&P 500 can go to a recession.
Given the strong Bitcoin correlation with capital markets, especially the S&P 500, this change could also exert down the low pressure on the cryptocurrency.
Source: Alfractal
Annual return comparisons reinforce this correlation. Between 2021 and 2023, Bitcoin won 282%, while S&P 500 registered 55% during the same period of two years. This suggests that if the actions face a strong decrease, Bitcoin will probably reflect that recession.
Global liquidity continues to play a central role in this dynamic. Historically, Bitcoin has reacted closely to liquidity changes.
At the time of writing this article, global liquidity shows a 0.32% decrease in last day, an output flow that is directly correlated with the current trend of the treasure performance curve.
Role of US and Korean investors
American and Korean investors show divergent approaches in the current market, although both remain inclined towards the upward positioning, according to Cryptoquant.
At the time of publication, both the Coinbase Prima Index and the Korean premium index reflected the contrasting feeling of investors.
The Premium Coinbase index, which tracks the activity of American investors, was in a rising trend with a reading of 0.006, showing a continuous purchase interest.
In contrast, the Korean premium index decreased by 0.4, suggesting that Korean investors were reducing their exposure.
Source: Cryptoquant
This divergence highlights an important dynamic: while US investors constantly accumulate, Korean investors are cutting positions.
If American buyers maintain their impulse and Korean investors return to positive tickets, Bitcoin could experience a stronger positive result in the market.
