Hammering Out The Bottom

Bitcoin has rallied back above the $20k level this week, pushing off a low of $19,215, and trading as high as $20,961. After consolidating in an increasingly tight range since early September, this is the first relief rally in many months.

In this weeks edition, we will assess a suite of metrics which present a relatively consistent case for the market hammering out a Bitcoin bottom, with almost textbook resemblance to prior cycle lows. At this stage, the 2022 bear has inflicted severe financial loss, both on investors who have capitulated, and those who still weather the storm. The last remaining piece of the puzzle appears to be a component of duration, time, and ultimately, investor apathy.

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