A key Bitcoin indicator, the Macro Chain Index (MCI), has issued its first buy signal since 2022, suggesting a potential new bull phase for the cryptocurrency. The MCI utilizes various on-chain and macroeconomic metrics to assess whether Bitcoin is undervalued or overvalued. Notable is the recent RSI crossover on the MCI, which occurred in April 2025 and has historically indicated the start of bull runs, including those in 2015 and 2019. Following a local low in early April, Bitcoin's price surged from approximately $74K to around $95K, buoyed by a 29.3% increase in Bitcoin open interest on Binance, signaling rising trader confidence. Moreover, positive funding rates indicate that long-position holders are actively entering the market. This bullish momentum suggests Bitcoin could aim towards the $100,000 mark in the near future.

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