Historically, $BTC's black line has always fallen below the blue line during bear market bottoms. Currently, the black line is still $1,046 away from crossing below the blue line. ┌ Indicator Details ┐ Black Line: The average purchase cost of short-term investors holding on-chain for <155 days Blue Line: The average purchase cost of all investors holding on-chain for 0-7 years When the black line falls below the blue line, it means all investors are starting to face unrealized losses. At this point, selling pressure and sentiment across the network may reach their peak, often signaling a bear market bottom.