PANews reported on February 6th that data from Coinglass shows the Bitcoin Ahr999 indicator has dropped to 0.27, significantly below the “bottom-fishing line” (0.45). The last time this index fell to this level was on June 18 and November 22, 2022, as well as March 16, 2020, when the market experienced the “ETH crash liquidation,” “FTX explosion,” and “316 crash” events, respectively.
The Bitcoin Ahr999 indicator (also called the ahr999 bottom-fishing indicator) was created by ahr999 (Nine Gods) and mainly helps long-term holders (HODLers) and dollar-cost averaging users determine the right buying opportunity. Ahr999 = (Current Bitcoin Price / 200-day DCA Cost) × (Current Bitcoin Price / Estimated Growth Valuation).
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