A rare confluence of macro and technical indicators is converging at the same time Bitcoin's proprietary risk model sits at a score of 27 — a level where price was higher 80% of the time three months later and 99% of the time after one year, based on data stretching back to 2010.
The copper-versus-gold ratio, a historically reliable leading indicator for crypto cycles, just broke out on both its MACD and RSI momentum oscillators — a move not seen since November 2020, the eve of Bitcoin's last major bull run. Simultaneously, the Russell 2000 is entering price discovery for the first time since 2021, a pattern that has preceded every prior crypto bull market. Both signals trace back to the same root cause: a suppressed business cycle, measured by the PMI manufacturing survey, that now shows early signs of expansion.
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