Bitcoin $BTC transaction volume is plummeting, which is a good thing if you're looking for the cycle bottom.
But, we're not quite to cycle bottom territory, and the difference does matter. 2014 spent 10 months at these same levels in the channel.
Crosses into low transaction volume have been pretty accurate for pinning the cycle bottom, usually within one month.
A lot of data is in a similar position. Close, but not quite there.