Bitcoin has been hovering between $60,000 - $70,000 for the last 4 months. 📉 This is an ordinary situation, such as the market falling after the halving events. However, it is important to understand the reasons for this situation and learn from it. 💡

There are many factors: large amounts of investment before the halving, miners' revenues halving and being forced to sell, American tax factors, etc. 🤔

Another important indicator is the Market Cap and Realized Value (MVRV), which reflects Bitcoin's unrealized profit. It peaked in March, when the price of Bitcoin was $73,100, while the average buying price was $26,580.

Long-term holders' positions are also an important indicator. Generally, these owners' sales form the peak and their purchases form the trough.

Finally, it is important to remember that Bitcoin is priced in dollars and the dollar supply is important. How much "money" is circulating in the market? Is this amount increasing or decreasing?

This and more can help us understand why Bitcoin is in this range. However, I don't think this is a cyclical peak. It seems more like a typical post-halving situation. 🚀