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Key takeaways<\/strong>:<\/p>\n Macro Chain Index issues first buy signal since 2022, hinting at a new Bitcoin bull run.<\/p>\n<\/li>\n RSI crossover on the MCI aligns with past cycle bottoms that preceded 500%+ BTC rallies.<\/p>\n<\/li>\n Bitcoin price recovers from $74K to $95K amid rising open interest and positive funding rates.<\/p>\n<\/li>\n<\/ul>\n A key Bitcoin (BTC<\/a>) indicator that accurately signaled the 2022 market bottom has just flashed another buy signal, suggesting the cryptocurrency may be entering a new bull phase.<\/p>\n Dubbed the Macro Chain Index (MCI)<\/a>, the indicator is a composite of several long-term on-chain and macroeconomic metrics. <\/p>\n It analyzes factors such as accumulation behavior, network activity, and supply trends, helping identify whether Bitcoin is undervalued or overvalued relative to its historical cycle position.<\/p>\n The most important part of the current chart is the RSI (Relative Strength Index<\/a>) of the MCI (purple). In April, the RSI crossed above its 52-week moving average (yellow), which has historically confirmed the start of Bitcoin bull runs.<\/p>\n This RSI crossover previously appeared in 2015 ahead of Bitcoin\u2019s surge to $20,000, in 2019 before the run to $65,000, and in late 2022 just before BTC bottomed near $15,500.<\/p>\n If historical patterns hold, the April 2025 crossover means the beginning of a new bull run, particularly as several other indicators also point to Bitcoin breaking above its key psychological resistance at $100,000<\/a>.<\/p>\n \u201cOur Macro Chain Index fired a long signal, the first buy signal since 2022, when it successfully went long at the absolute bottom,\u201d Alpha Extract, the creator of the Macro Chain Index, stressed further, adding: <\/p>\n \u201cConsidering that the fundamentals align and the market structure is gradually following, this is a significant call, imho.\u201d<\/p><\/blockquote>\n Related: <\/strong><\/em>Bitcoin price always rallies at least 50% after these two patterns emerge<\/strong><\/em><\/a><\/p>\n Bitcoin dipped by as much as 32% after establishing a record high of nearly $110,000 in January, a sharp decline caused primarily by US President Donald Trump\u2019s global trade war<\/a>. <\/p>\n BTC formed a local low below $74,450 in early April, but has since recovered to around $95,650 amid signs that it is \u201cdecoupling<\/a>\u201d from an otherwise bearish US stock market.<\/p>\n Bitcoin\u2019s recent price rebound is gaining strong support from futures markets, especially on Binance.<\/p>\n Between January and early April, open interest<\/a> (OI) on the exchange dropped<\/a> from $11.9 billion to $7.5 billion, marking a 36.9% decline and signaling reduced confidence and lower leverage during the market downturn. But the trend flipped in mid-April.<\/p>\n Over the past three weeks, traders have pushed open interest up by 29.3%, from $7.5 billion to $9.7 billion, aligning with Bitcoin\u2019s price rise in spot markets.<\/p>\n This synchronized rise in price and open interest shows that traders are entering new long positions, not just closing shorts. It signals growing confidence in Bitcoin\u2019s upside.<\/p>\n\n
Bitcoin metric hints at \u201cabsolute bottom\u201d<\/h2>\n
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Bitcoin open interest rises by $2.2 billion in April<\/h2>\n
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