Bitcoin Ahr999 Indicator Falls to 0.3064, Marking Ninth Straight Day in Buy-the-Dip Zone
According to ChainCatcher citing CoinGlass, Bitcoin’s Ahr999 indicator fell to 0.3064 from 0.3477 the previous day, remaining below the 0.45 buy-the-dip threshold for a ninth consecutive day. It dropped below 0.45 again on Nov. 6. The previous period below the threshold lasted about 82 days, from May 29 to Aug. 19 this year. Bitcoin’s 200-day dollar-cost averaging level is about $72,525. The indicator reflects short-term dollar-cost averaging returns and the gap between Bitcoin’s price and its expected valuation; historically, it has been below 0.45 for 741 days.