Current Bitcoin ($BTC) Rally Is Historically Different; Here's How

Bitcoin News: The current Bitcoin (BTC) rally could perhaps have been a result of relief from the macroeconomic scenario and resistance to the shock events in crypto market in 2022. However, a steady growth since the beginning of January 2023 raised hopes of a prolonged rally, marking an end to the painful crypto winter of 2022. Despite the bullish atmosphere, the top cryptocurrency is currently below the key indicator of 200 day weekly moving average (WMA). An important observation from on chain data could answer the reason behind this behavior in BTC.