📚 [Analysis] Bitcoin's short-term outlook and favorable macro backdrop - Delphi Digital

Delphi Digital has updated their bitcoin market cycles analysis previously published in their State of Bitcoin report. According to this update, Bitcoin ($BTC) has a favorable macro outlook while becoming one of the best performing assets year-to-date amid a significant recovery in risky assets. Short term, Delphi believes Bitcoin has found it's cycle low as accumulation continues and long-term holders continue to sell minimal amounts of their holdings. Delphi also introduces a new Network Value Transactions Signal (NVTS), a modified NTV metric useful for gaguing Bitcoin's market cycles.