Just today I was talking about the potential bottom zone of the current cycle $BTC , and I literally stumbled upon a fresh analysis from Rafael Schultze-Kraft.
For those who don't know, Rafael is a co-founder and one of the key analysts at Glassnode, which specializes in on-chain Bitcoin analytics as well as the crypto market overall. Their metrics are often used by funds, analysts, and major market players.
And the most interesting part is that his findings are very similar to what we discussed earlier. According to his assessment, the most likely zone for bottom formation is between $46,000 and $54,000. He doesn't completely rule out a drop to $35,000–40,000, but considers it significantly less likely.
Another interesting point is that BTC has now entered the price levels where long-term bottoms have often formed in previous cycles. According to Rafael, only about 7% of Bitcoin's entire trading history has occurred below the current values of some key on-chain metrics.
But it's still too early to talk about a reversal. The analyst himself believes that for Bitcoin to restore its bullish structure, it needs to regain and hold levels around $75,000–79,000.
So, we wait and hope for the best)))
#UkrainianContent #bitcoin
For those who don't know, Rafael is a co-founder and one of the key analysts at Glassnode, which specializes in on-chain Bitcoin analytics as well as the crypto market overall. Their metrics are often used by funds, analysts, and major market players.
And the most interesting part is that his findings are very similar to what we discussed earlier. According to his assessment, the most likely zone for bottom formation is between $46,000 and $54,000. He doesn't completely rule out a drop to $35,000–40,000, but considers it significantly less likely.
Another interesting point is that BTC has now entered the price levels where long-term bottoms have often formed in previous cycles. According to Rafael, only about 7% of Bitcoin's entire trading history has occurred below the current values of some key on-chain metrics.
But it's still too early to talk about a reversal. The analyst himself believes that for Bitcoin to restore its bullish structure, it needs to regain and hold levels around $75,000–79,000.
So, we wait and hope for the best)))
#UkrainianContent #bitcoin