Bitcoin Cycle Bottom: $46K - $54K? 👀
📊 According to Glassnode co-founder Raphael Schultze-Kraft, the current Bitcoin cycle bottom could be in the $46,000 - $54,000 range based on the CVDD indicator.
📉 Meanwhile, the Balanced Price and Delta Price indicators suggest that Bitcoin could still revisit the $35,000 - $40,000 zone.
📈 Historically, Bitcoin has corrected 77% - 85% from its All-Time High (ATH) during previous market cycles.
💰 At present, Bitcoin is down around 50% from its October peak, leaving room for further downside.
⚠️ However, increasing market maturity may result in a higher cycle bottom, with the $46K - $54K range considered a possible support area.
🔍 As always, market conditions can change rapidly. Manage risk and do your own research