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Bitcoin price metric demands ‘strong reaction’ as $56K BTC starts to look ‘seriously cheap’ By Cointelegraph

© Reuters.

(BTC) is “seriously cheap” at $56,000 relative to community exercise — and which means just one factor, one analyst says.

In a tweet on Nov. 24, Philip Swift, creator of analytics platform LookIntoBitcoin, highlighted a bull flag on Bitcoin’s Advanced NVT Signal.

Bitcoin Advanced NVT Signal chart. Source: Philip Swift/Twitter
Bitcoin short-term holder provide proportion chart. Source: Glassnode