Bitcoin is flashing multiple bottom symbols, according to Yassine Elmandjra, an analyst at ARK Investment Management.

Elmandjra notes the king crypto (BTC) is trading below its 200-week moving average (MA) short and long-term cost bases.

It’s only the fourth time that’s happened in Bitcoin’s price history, according to the analyst.

“As stakeholders with the most skin in the game, miner capitulation is a key bottom marker. The Puell Multiple, a measurement that compares daily miner revenue to its yearly average, is at a 3-year low.”

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