This post was originally published on Coinspeaker
BTC USD is trading at approximately $68,200, down roughly +2.2% in the past 24 hours, as a key on-chain metric quietly signals something analysts haven’t flagged since the 2022 cycle bottom. The question isn’t whether a buy zone exists; it’s whether the market has actually reached it yet.
According to CryptoQuant data, Bitcoin’s realized price, the aggregate cost basis of all coins weighted by their last on-chain movement, currently sits at $54,286, while spot trades near $68,774. That places Bitcoin approximately 21% above its realized price, a gap that has compressed sharply from a roughly 120% premium recorded when BTC traded above $119,000 in late 2024.
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CryptoQuant analysts flagged the setup as an emerging “accumulation zone” comparable to 2022, though the framing draws scrutiny: the actual 2022 bottom was defined by spot trading below realized price, not 21% above it. The capitulation signal, in other words, has not fired.
That nuance, compression without confirmation, frames the technical picture heading into April. Macro catalysts remain live, and the on-chain backdrop is shifting faster than most cycle timelines would predict.
Can Bitcoin Price Reclaim $70,000 Before a Deeper Correction Sets In?
Bitcoin’s 24-hour range of $67,500
— Read the rest of this post, which was originally published on Coinspeaker.
