There were too many things to forget in 2022, but the bad news keeps coming for crypto. Both Bitcoin (БТК) и Ethereum (ETH) failed to top their previous cycle highs for the first time by year-end.
2022 was the first year that Bitcoin and Ethereum closed lower than their previous cycle highs.
Institutional crypto research firm Delphi Digital revealed the gloomy end-of-year price metrics on Jan. 3. It added that the 200-week moving average was also a critical level that had never been broken in previous cycles.
“BTC had never failed to maintain its 200-week moving average, which has historically been a key support level for cyclical bottoms".
Source: https://beincrypto.com/2022-becomes-first-year-btc-and-eth-closed-lower-than-previous-cycle-highs/