The chart shows how the price of Bitcoin relates to its “realized supply.” The purple line (SMA-30D) is a 30-day moving average of this ratio.

When the purple line dips very low (below the lower dotted line), it signals either a local correction day in a bull market or the beginning of a bear market. In either case, Bitcoin is becoming undervalued.

The chart highlights two previous signals during the bull market that emerged after COVID and the Chinese mining ban.#BTC ,#analitics