Quant fund says bitcoin is near a major inflection point as rare onchain signals align
Hyperion Decimus’ Chris Sullivan said four historically reliable indicators have aligned, leaving bitcoin one move away from confirming a major turning point.
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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.
