Recent insights from Ruga Research highlight a pivotal moment for Bitcoin, suggesting that the cryptocurrency may be nearing a cyclical bottom. According to the официальной информации, this analysis, conducted on the CryptoQuant platform, draws attention to key on-chain data that could signal a potential turnaround for Bitcoin's price trajectory.
Bitcoin's Current Price Analysis
According to the findings, Bitcoin's current price exhibits a 40% negative deviation from its 200-day moving average. This metric is derived from the Mayer Multiple, which assesses how much a coin's price is trading above or below its long-term trend. Presently, the Mayer Multiple stands at 0.6, indicating that Bitcoin is trading significantly below its historical average.
Historical Patterns and Market Implications
Historical patterns reveal that such price levels have frequently been precursors to substantial recoveries in Bitcoin's value. As investors and analysts closely monitor these developments, the implications of this analysis could influence market sentiment and trading strategies in the coming weeks.
Bitcoin's price struggles continue as it remains significantly below previous highs, highlighting the severity of the current bear market. For more details on this challenging market environment, see the full report here.
