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Historically accurate Bitcoin metric exits buy zone in ‘unprecedented’ 2022 bear market

After hitting levels which traditionally accompany macro price bottoms, the Puell Multiple is now aiming higher — something traditionally seen at the start of macro price uptrends.
Related: Bitcoin futures data shows ‘improving’ mood’ despite -31% GBTC premiumAs sentiment exits the “fear” zone, market watchers are pointing to unique phenomena which continue to make the 2022 bear market extremely difficult to predict with any certainty.
“More importantly, the bitcoin price did not cross the Realized Price threshold during the last two periods (134 days in 2018 and 7 days in 2020).
Bitcoin realized price chart.
In addition to realized price, meanwhile, Bitcoin has formed an unusual relationship to its 200-week moving average (MA) this bear market.

Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.

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