This Bitcoin long-term holder metric is nearing the BTC price ‘bottom zone’
A Bitcoin (BTC) on-chain indicator, which tracks the amount of coin supply held by long-term holders (LTH) in losses, is signaling that a market bottom could be close.
Eerily accurate Bitcoin bottom pundit
As of Sept. 22, approximately 30% of Bitcoin’s LTHs were facing losses due to BTC’s decline from $69,000 in November 2021 to around $19,000 now. That is about 3%–5% below the level that previously coincided with Bitcoin’s market bottoms.
For instance, in March 2020, Bitcoin price declined…