币圈老鱼🌊🌊|Mar 26, 2026 03:17
4 on-chain signals marking the bottom of the 2022 bear market—save this!
1/ BTC's 30-day moving average dropped below the 60-day, and miners massively shut down operations and sold coins. Right now, the 30-day MA is still above the 60-day.
2/ MVRV Z-Score fell below 0.1. Currently, it's around 0.55.
3/ Stablecoin dominance: At the end of 2022, it was 11.5%, with most funds parked in stablecoins for risk aversion. Now, it's at 7%.
4/ Puell Multiple (miner revenue multiple): At the end of 2022, most miners were operating at a loss. Currently, it's at 0.69—miners are under pressure but not to the point of shutting down and surrendering.
In summary, this stage might bring rebound opportunities, but don't expect a full reversal. If there's a bounce, take the profit and move on.
#Crypto #BTC #BearMarket
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