According to Andre Dragosch, several factors support a bullish case for Bitcoin (BTC), despite conflicting economic data. Dragosch highlights that the US Dollar Index (DXY) falling to its lowest level since March 2022 is a 'very bullish' signal for global money supply and Bitcoin. This is complemented by the strong performance of Nvidia (NVDA) stock, which hit a record high and maintains a strong positive 90-day correlation of 0.80 with BTC. Further supporting a risk-on environment, bond markets are signaling a potential recession with a steepening yield curve, as noted by Kurt S. Altrichter, and consumer confidence has dropped to levels that historically precede a downturn. However, a stronger-than-expected U.S. June jobs report, with 147,000 payrolls added, has complicated the outlook. This robust data supports the Federal Reserve's patient stance on monetary policy, causing traders to significantly reduce bets on a July rate cut and leading to a modest dip in BTC's price from its one-month high above $110,000.

According to Andre Dragosch, several key traditional market indicators are strengthening the bullish case for Bitcoin (BTC). Dragosch highlights on X that the U.S. Dollar Index (DXY) falling to its lowest level since March 2022 is "very bullish" for global money supply and Bitcoin. This development comes as the Federal Reserve holds interest rates steady but projects weaker economic growth and higher inflation. Further bolstering the outlook for risk assets, Nvidia (NVDA) shares hit a record high, maintaining a strong 90-day correlation of 0.80 with BTC. Additionally, bond markets are signaling a potential recession with a steepening yield curve, and consumer confidence has dropped to a level that historically precedes an economic downturn. These factors are leading traders to price in Fed rate cuts, with CME's FedWatch tool and interest rate swaps indicating expectations for easing as early as the July meeting.