Bitcoin miner signal flashes buy after 10 cases delivered an 80% positive rate

  • 10X Research identified a buy signal in a Bitcoin miner indicator.
  • Eight of 10 historical signals preceded gains, with a 58.6% median return.
  • Bitcoin traded at $79,125 as markets awaited major policy decisions.

A Bitcoin miner signal tracked by 10X Research has flashed a buy indication, with eight of its 10 historical occurrences followed by gains. The sample produced a median return of 58.6% and average gains of about 41%, although two signals preceded losses of 24% and 40%. Bitcoin was trading at $79,125 at the time of reporting, up about 2.35% over 24 hours and roughly 25% over the past month, giving it a market capitalization of around $1.58 trillion. The signal comes during a week featuring the Federal Reserve’s interest-rate decision, a Senate vote on the CLARITY Act and a Bank of Japan rate decision. Goldman Sachs and JPMorgan expect a 25-basis-point U.S. rate increase, while separate market estimates cited in the reports ranged from 85% to 90.1% and 87%. Higher rates, oil above $103 a barrel, Treasury yields, the dollar and the ongoing U.S.-Iran conflict remain sources of pressure for risk assets.

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