Analyst: $60,000 may become the new accumulation zone for Bitcoin, with a cycle bottom to watch at $48,000

Odaily Planet Daily News CryptoQuant analyst Axel Adler Jr. stated that Bitcoin may have entered a new accumulation zone, but the potential structural bottom of this cycle is still around $48,000. Currently, Bitcoin's adjusted Spent Output Profit Ratio (SOPR) has entered the red zone for the first time as it broke below $60,000, indicating that the loss supply has begun to exceed the profit supply, and the unrealized pressure on holders has significantly increased. On the other hand, the Cumulative Value Destroyed Days (CVDD) valuation model shows 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, it will be necessary to observe whether the price can hold the $60,000 zone, while the smoothed SOPR line continues to recover. Although the Bitcoin price has rebounded to around $66,000, the market is still in the lower part of the valuation range, and attention should still be paid to the final confirmation process of the cycle bottom.