9 Indicators Suggest Bitcoin Is Near A Major Bottom

Matt Crosby from Bitcoin Magazine Pro argues Bitcoin is near a major bottom using nine indicators: RSI oversold at $60K, record stablecoin rotation signaling capitulation, extreme bearish sentiment, and relative purchasing power support. He extends the contrarian view to US equities, citing all-time low consumer sentiment and record put volume. The host questions a chart level that also preceded the 2022 bear market. - Bitcoin RSI and a double bottom at $60K historically led to good accumulation opportunities. - Retail capital momentum indicator based on stablecoin dominance shows the 7th largest rotation out of risk assets, signaling dictionary-definition capitulation. - Bitcoin social media sentiment turned to pure hatred, historically a contrarian buy signal. - Bitcoin's relative purchasing power as a share of global capital at 0.23% has been a key turning point with three prior immediate bounces. - US consumer sentiment hit its lowest level ever, and record put volume on SPY and QQQ both marked prior market bottoms, supporting upside for equities. - Host notes the same relative-purchasing-power level also preceded the 2022 bear market drop to $16K, cautioning it could act as resistance.