, indicating that the market was in a capitulation phase, it rolled down to extreme unrealized losses at the moment after the recent decline. The last time the index fell this low was in December 2018, when the BTC price reached the $3,200 mark.
Having broken the bottom in both on-chain metrics and its price in the current crypto market cycle,is once again exhibiting a weakly volatile trading dynamic. In the last few days since the FTX collapse, BTC has not moved more than $300 per day. That said, the cryptocurrency continues to hold above the $16,500-$15,500 zone, which is a good sign.
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