Bitcoin (CRYPTO: BTC) could be approaching a major breakout as three key catalysts create a potentially favorable backdrop for scarce assets.
Why Crypto Is at a ‘Major Inflection Point’
In a podcast with Anthony Pompliano on Aug. 8, market strategist Jordi Visser argued that the past 10 trading days could eventually be viewed as “a major inflection point” for Bitcoin and the broader financial markets.
His thesis centers on growing constraints facing U.S. policymakers.
Long-term Treasury yields have climbed sharply even as the labor market shows signs of weakening, leaving the Federal Reserve with fewer attractive policy options.
He pointed to weakening wages and employment conditions, noting that aggregate payroll trends are at their weakest six-month level since 2012 outside the COVID-19 period.
Visser sees the reaction across scarce assets as particularly telling. Gold, silver and platinum have started breaking higher, while Bitcoin has yet to make a comparable move.
He believes that could soon change.
“I’m a believer right now that all it’s going to take to get the Bitcoin crowd fired up is a technical breaking point,” Visser said.
Over the past week, Bitcoin prices went up 4%.
