On February 1, the cryptocurrency influencer Sea Bitcoin reported a significant development regarding Bitcoin's accumulation indicator, ahr999. According to BlockBeats, this metric has dropped below 0.45, a critical threshold known as the 'bottom line,' for the first time in 839 days since October 16, 2023.
The ahr999 indicator is calculated by dividing the current Bitcoin price by the 200-day dollar-cost average and multiplying it by the current Bitcoin price divided by the exponential growth valuation. The 200-day dollar-cost average reflects the average cost of purchasing Bitcoin daily over the past 200 days, indicating short-term investment returns.
The exponential growth valuation is derived from an exponential fitting curve based on Bitcoin's historical prices and block height or time, representing the long-term 'fair value' or expected valuation.