That IS a good metric that I didn't know was a metric.

There was a big piece of the recent bull run that was discovery-fueled and unsustainable parabolic growth. While great for profit taking, it definitely had to correct.

If BTC is to make its run toward 80k and 100k like to many folks are calling for, it definitely had to recharge, shake out the bears, give the next wave of investors a good entry point and cool off from the white hot FOMO.

I LOVE sideways action and 30-40k is a nice little 20% scalping channel if you are right.

Big thanks to @frankbacon for rehiving this as I would have surely missed it! Well met.