Bitcoin Trades Above Realized Price, Indicating Accumulation Zone

Bitcoin is currently trading approximately 21% above its realized price of $54,286, according to data from CryptoQuant. This level remains above the threshold that has historically marked cycle bottoms. According to NS3.AI, CryptoQuant analyst Oinonen has identified the current market conditions as an accumulation zone. However, historical data suggests that the 2022 bottom was formed when the spot price was at or below the realized price.