Wen bottom?

Bitcoin price is almost at the same level it's been 4 months ago, and not much really happened in between. While the gambling addicts are resorting to small caps searching for that adrenaline fix, let's try to zoom out and review where we are on a larger scale.

I'll share a couple metrics that are my personal favourites for long timeframe analysis.

1) MDIA + MVRV 3y

MDIA is at all-time high, meaning there's no distribution of coins happening for a long time, and MVRV for the last 1.5 years very closely resembles the 2017-2019 situation.

2) Social volume + weighted sentiment

Social volume has declined quite significantly since the market top, and sentiment has been making much more lows that highs at the same time.

3) NRPL

Network-realised-profit-loss is a good indicator of how rekt the market participants are, and here you can see that if measured in BTC, they have experienced losses at the same level as in 2019, but in USD terms it will be much higher as price of BTC has grown almost 10x since.

In conclusion, looking at the long-term data current situation doesn't look as terrible as it might seem from the outside perspective. Of course, history does not repeat but it might rhyme.