
The “Alts buy signal” chart is flashing a buy signal, with a trader linking it to levels Bitcoin hit before its price surged sixfold over six months.
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The popular Bitcoin valuation metric hasn’t been at this level since the downfall of cryptocurrency exchange FTX in November 2022.
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Bitcoin is now trading in its “longest” consolidation period, but the longer the consolidation, the “larger the expansion,” according to traders.
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