Analyst: $60,000 may become Bitcoin's new accumulation zone, with cycle bottom focus on $48,000

Odaily Planet Daily 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, the adjusted Spent Output Profit Ratio (SOPR) for Bitcoin has entered the red zone for the first time as it broke below $60,000, indicating that loss-making supply is beginning to exceed profitable supply, significantly increasing unrealized pressure on holders. On the other hand, the Cumulative Value Destroyed Days (CVDD) valuation model suggests that the structural bottom of the current Bitcoin cycle is approximately $48,000.

Axel Adler Jr. concluded that historically, similar zones often correspond to market capitulation phases and bottom formation processes, such as the cycle lows in 2019 and 2023. However, further observation is needed to see if the price can hold the $60,000 zone, while the smoothed SOPR line continues to recover. Although Bitcoin's price has rebounded to around $66,000, the market remains in the lower range of the valuation zone, and caution is still required regarding the final confirmation process of the cycle bottom.