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The indicator's value seems to have  been at low values recently  | Source: Arcane Research's The Weekly Update - Week 15, 2022 

                                    
                                    
                                    
  

                                    
 

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The value of BTC seems to have shot up over the last couple of days | Source: BTCUSD on TradingView

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Featured image from Unsplash.com, charts from TradingView.com, Arcane Research