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The June close above realized price but below the 200-week moving average “signals the bear bottom is still ahead per prior cycles,” one analyst said.
Bitcoin bear-market bottom signs appear as the TD9 indicator mirrors the final stages of the 2022 BTC price downtrend.
Bitcoin's recent selloff brought it within 10% of its realized price — a line that has marked the bottoming zone in Bitcoin's previous bear markets.
Bitcoin RSI bullish divergences formed the basis for the new bull case, but some market takes warned that new BTC price lows were still to come.
