Bitcoin Sits High as Realized Price Triggers BTC “Macro Signal”

Interesting signals are being printed by several other chart indicators this week, all of which turned out to be bear market markers.

Market Update

Bitcoin (BTC) moved closer to $22,000 on August 25, with realized price the next major hurdle for bulls.

BTC/USD 1-Hour Candle Chart ( Bitstamp). Source: TradingView

Realized Price Inspires Confidence

Data from Cointelegraph Markets Pro and TradingView showed that BTC/USD rose overnight to come face to face with $21,700.

This level, coinciding with the realized price, had marked the key reversal area to target for a bullish continuation the previous day, but at the time of writing, Bitcoin had not yet pushed beyond or l 'had turned convincingly into support.

“At realized price again,” the Root analyst summed up alongside a chart showing the interaction between realized price and spot price in previous bear markets.

2022 had so far seen significantly less time below realized price than 2018 or 2014, Root noted.

A later article contained a more optimistic forecast, with the 90-day change in realized price now reaching levels historically prior to the prolonged price rally.

This, Root added, was now a "macro signal".

BTC/USD Realized Price Chart. Source: Glassnode

As Cointelegraph