Analyst: $60K May Become New Accumulation Zone for Bitcoin, Cycle Bottom Around $48K

Odaily reported that CryptoQuant analyst Axel Adler Jr. stated that Bitcoin may have entered a new accumulation zone, but the potential structural bottom of the current cycle remains around $48,000. Currently, Bitcoin's adjusted Seller Risk Ratio has entered the red zone for the first time as it fell below $60,000, indicating that realized losses have begun to exceed realized gains, with holders' unrealized pressure increasing significantly. On the other hand, the Cumulative Value Coin Days Destroyed (CVDD) valuation model suggests that the structural bottom of the current Bitcoin cycle is around $48,000.

Axel Adler Jr. summarized that historically, similar zones often correspond to market capitulation phases and bottom formation processes, such as the cycle lows in 2019 and 2023. However, it is necessary to observe whether the price can hold the $60,000 zone going forward, along with a sustained recovery in the smoothed Seller Risk Ratio. Although the Bitcoin price has rebounded to around $66,000, the market is still in the lower part of the valuation range, and caution is still needed regarding the final confirmation of the cycle bottom.