Here’s Why Bitcoin Mirrors Summer 2024 And What’s Next

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Here’s Why Bitcoin Mirrors Summer 2024 And What’s Next - NewsBTC

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Related Reading: Bitcoin To Brutally Bleed Lower’ Or Break New ATH In Q2, Expert Warns "Falling CESI = data coming in below expectations, rising CESI = data coming in above expectations,” Tomas explained, highlighting the significance of the index for market sentiment.

Why Bitcoin Mirrors Summer 2024 Tomas then turned his attention to parallels between the current environment and two notable past episodes: the turbulence of Summer 2024 and the rout of late 2018.

According to his analysis, US growth nowcasts—which aggregate various real-time measures of economic growth—"fell throughout February but have been leveling off for three weeks.” He likewise referenced the Citi Economic Surprise Index (CESI), which tracks how actual economic data compares to consensus forecasts.