Bitcoin Flashes Rare Bullish Divergence – Déjà Vu for BTC?

Bitcoin hovered a little below $64,800 on Thursday, up about 1.2% over the past week, as bulls attempted to push the crypto asset back above the key $65,000 level.

New data indicates that its current market structure closely resembles a period that changed the course of the cycle.

Historic Signal Crypto analyst Ali Martinez said Bitcoin may have already formed its market bottom after a bullish divergence reappeared between BTC’s price and Net Capital Flows.

According to Martinez, the last time the same divergence emerged, it marked the cycle bottom before the crypto asset rallied from around $15,000 to eventually reach $126,000.