Bitcoin Bear Signal Warning!

Bitcoin's path to $110K is shaky as the Bitcoin Macro Index shows a "bearish divergence." This metric, designed by Capriole Investments in 2022, analyzes on-chain and macro-market data. As of late 2023, it's not reflecting a strong position for Bitcoin, despite the price having higher highs. Charles Edwards of Capriole notes this could imply Bitcoin's long-term peak is past. Such signals, common in past bull markets, indicate potential market caution. However, experts like CryptoQuant say Bitcoin isn't overheated yet, and it faces macro turbulence instead.