According to @StockMKTNewz, Bitcoin's (BTC) bullish case is strengthening as several key traditional market indicators align in its favor. The U.S. dollar index (DXY) has fallen to its lowest level since February 2022, a development that Bitwise's Head of Research, Andre Dragosch, called "very bullish" for global money supply and Bitcoin. Further supporting a risk-on sentiment, Nvidia (NVDA) shares hit a record high, maintaining a strong 90-day correlation of 0.80 with BTC. Meanwhile, macroeconomic signals like a steepening yield curve, which wealth advisor Kurt S. Altrichter notes has historically preceded recessions, and a drop in consumer confidence reported by the Conference Board, are fueling expectations for a Federal Reserve rate cut. CME's FedWatch tool indicates traders are now pricing in a potential July cut. In a separate analysis, JPMorgan raised its price targets for bitcoin miners including CleanSpark (CLSK), Riot Platforms (RIOT), and MARA Holdings (MARA), citing a 24% increase in its spot bitcoin price assumption and improving industry economics.

According to @KookCapitalLLC, a compelling pair trade involves shorting Coinbase (COIN) shares while going long on Bitcoin (BTC), as the exchange's stock is approaching a significant overvaluation threshold. Citing analysis from Markus Thielen's 10x Research, the summary notes that COIN's 84% price rally over the past two months has decoupled from both Bitcoin's modest 14% gain and stagnant crypto trading volumes, creating a classic setup for a "tactical reversal." The research firm's model suggests COIN's valuation is extended and vulnerable to mean reversion. Meanwhile, the bull case for Bitcoin is strengthening due to favorable macro conditions, including a weakening U.S. dollar index, a strong 0.80 correlation with Nvidia (NVDA) which recently hit a record high, and mounting recession signals that are leading traders to price in Federal Reserve rate cuts.

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.