The next hurdle for bulls? Realized price.
with realized price, had marked the key flip zone to target for bullish continuation the day prior, but at the time of writing, Bitcoin had yet to push beyond it or convincingly turn it to support.alongside a chart showing the interaction between realized price and spot price during prior bear markets.A subsequent post
a more hopeful forecast, with the 90-day change in realized price now hitting levels historically preceding extended price upside.As Cointelegraph reported, several long-term trendlines involving the, leading some to believe that significant further losses may not materialize. Aurelien Ohayon, CEO of software firm XOR Strategy, additionally cited the relationship between spot and its 200-day simple moving average on the day as a firm bull signal.
As with Root’s realized price findings, the depth between the 200 SMA and spot was now echoing behavior at the 2018 and 2014 macro bottoms, heOhayon had long called for a major bull run to begin for Bitcoin, a perspective that garnered him significant criticism on social media in recent months.Markets gear up for Fed Jackson Holecomments
Returning to spot price in the short term, meanwhile, trader and analyst Il Capo of Crypto stuck by a prediction of $22,000 being regained before a significant downturn entered.
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