Using Realized Market Cap, I've created the simple bands, different from the Magic Bands, which use Volume and are more specific. It's nice to have easy, effective price models, which this does well. A cycle bottom band, a top band, and a midline. Price just broke below the mid-line, which is standard for halfway through the bear market. That's a common theme of current data. The cycle bottom band is usually visited twice, and it's currently at 42k. A plausible cycle bottom price. Metrics like this almost make it look too easy; it's the narratives (super cycle and super doom) that keep it running.