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A lot of people are calling for the bottom
But here’s something worth paying attention to
Bitcoin is still trading well above its Realized Price (the average cost basis of all BTC in circulation).
In every major bear market so far, BTC eventually traded at or below its Realized Price before putting in a long term bottom.
We’re not there yet.
Does that mean Bitcoin has to revisit its Realized Price? No.
Markets evolve, and history never repeats perfectly.
But one of the most consistent on-chain signals from previous cycles still hasn’t been fully tested this time around.
Worth keeping in mind while everyone is busy calling the bottom.