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Bitcoin bottom signal lights up again as on-chain metrics send mixed messages

Bitcoin has re-entered a reversal zone similar to the 2022 bear-market bottom, an analysis said. Analyst Frank said a “typical Bitcoin bottom” is forming as the price moves toward $65,000, citing the 200-week simple moving average and related indicators, including a 9th decile zone. He also pointed to short-term holder SOPR turning positive as a bullish sign. CryptoQuant, however, said stronger bottoms often involve a deeper SOPR drop.