Bitcoin ETF · Bitcoin · CoinDesk
Quant fund confirms bitcoin is near a major inflection point as rare onchain signals align
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Bitcoin BTC $ 59,772.97 could be approaching a major turning point after a rare combination of onchain indicators flashed signals that have historically coincided with market bottoms, according to Chris Sullivan, co-founder and portfolio manager at digital asset hedge fund Hyperion Decimus.
Key facts
- Either they have to break above the $82,000 pivot to confirm, or they have one final low, call it between $54,000 and $57,000
- In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024
- Bitcoin BTC $ 59,772.97 could be approaching a major turning point after a rare combination of onchain indicators flashed signals that have historically coincided with market bottoms, according
- Until bitcoin either reclaims key resistance near $82,000 or experiences what Sullivan views as a final capitulation, he expects investors to remain skeptical, even as the data increasingly points
Summary
A set of four rare on-chain indicators tracked by hedge fund Hyperion Decimus has aligned for only the sixth time in bitcoin’s history, a pattern that previously coincided with market bottoms. Portfolio manager Chris Sullivan said bitcoin is likely either to break above a key $82,000 resistance level or fall to as low as $48,000 in a final capitulation within 90 days before a new uptrend can be confirmed. Sullivan argued that structural changes in U.S. spot bitcoin ETFs and improvements in onchain fundamentals are more important than bearish narratives, even as he maintains that the bear market pattern has not yet fully completed.