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Bitcoin (BTC) has entered the “darkest days” of its bear market correction, based on a classic BTC price indicator hitting near four-year lows.
Key takeaways:
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Bitcoin Mayer Multiple fell to 0.65, matching deep bear market lows in May 2022.
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A repeat of 2022 would see BTC drop further to as low as $40,000.
Mayer Multiple returns to May 2022 levels
Bitcoin’s 45% crash from its $126,000 peak has placed onchain indicators in focus as market participants search for where BTC price is likely to bottom.
The…
