Benzinga - A lesser-known but historically accurate Bitcoin (CRYPTO: BTC) price indicator has turned positive, signaling the potential start of a significant bull market.
For the first time since October 2021, Bitcoin's reserve risk multiple has crossed above zero, as reported by blockchain analytics firm Glassnode.
Past instances of the reserve risk multiple crossing above zero have led to impressive price surges.
On-chain analyst Ali Martinez tweeted Monday, "In 2012, 2013, 2015, 2019, and 2020, it resulted in gains of 2,830%, 566%, 6,400%, 99%, and 487%, respectively."
This #Bitcoin indicator signals huge potential!When the $BTC Reserve Risk moves above 0, it signals parabolic price moves. In 2012, 2013, 2015, 2019, and 2020, it resulted in gains of 2,830%, 566%, 6,400%, 99%, and 487%, respectively.
Reserve Risk just crossed 0 again!