CoinDesk Bitcoin Trend Indicator (BTI): Shifted from bullish to neutral, upward momentum weakened

Golden Finance reported that the CoinDesk Bitcoin Trend Index (BTI) has shifted from bullish to neutral, indicating a weakening upward momentum. The Bitcoin BTI has been in an uptrend or significantly rising trend since October 2023, when there were initial reports that major fund managers were in final discussions with the U.S. Securities and Exchange Commission on launching a physically-backed Bitcoin exchange-traded fund (ETF). The BTI is a daily signal that conveys the direction and strength of the Bitcoin price trend through a proprietary algorithm.