If we trust the CVDD metric, the historical bottom of the current bear market might be around $47,000
🏷 CVDD is one of the oldest on-chain indicators for Bitcoin. It’s calculated based on the activity of long-term holders and shows the level where BTC found its cyclical bottom in 2011, 2015, 2018, and 2022
In previous cycles, the CVDD area became the final capitulation zone and market reversal point. Right now, the CVDD value is around $47k, and I’m eyeing this level as a potential target for a drop
Although some analysts suggest that the price might dip below the CVDD for the first time, historically, this indicator remains one of the most accurate benchmarks for locating BTC's long-term bottom
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🏷 CVDD is one of the oldest on-chain indicators for Bitcoin. It’s calculated based on the activity of long-term holders and shows the level where BTC found its cyclical bottom in 2011, 2015, 2018, and 2022
In previous cycles, the CVDD area became the final capitulation zone and market reversal point. Right now, the CVDD value is around $47k, and I’m eyeing this level as a potential target for a drop
Although some analysts suggest that the price might dip below the CVDD for the first time, historically, this indicator remains one of the most accurate benchmarks for locating BTC's long-term bottom
🔱