Bitcoin hodler data hints BTC price 'really close' to bottom — nalysts
— Eye, Inwith many sources calling, Bitcoin, Bottom — 1 min read
Bitcoin (BTC) could have already seen a price bottom or be “really close” to one, analysts believe after eyeing new data this week. In a Twitter thread on June 22, well-known indicator creator David Puell revealed what he argues “looks interesting” about current Bitcoin buying and selling. With Bitcoin at multi-year lows, the pain thus lies with STHs more than LTHs. Capitulation selling from the former could thus have already expressed itself. Mayer Multiple, which shows how far below the 200-day moving average (DMA) the current spot price is, is hinting that return on investment rarely gets better. At 0.5, the Multiple has been lower just 2% of Bitcoin’s lifetime. Source