ChainCatcher reports that Bitcoin News posted on X, stating that after a nearly 50% decline since October, multiple historical indicators suggest BTC selling may be entering its final stage. The MVRV Z Score has dropped to approximately 0.38, a level previously associated with undervaluation. Other key support levels include the realized price near $54,000 and the 200-week moving average near $58,000. Bloomberg notes that the potential bottom range lies between $45,000 and $55,000, but sustained recovery requires new demand support. Over the past month, spot BTC ETFs have seen inflows exceeding $1.6 billion, led by funds such as BlackRock’s IBIT and VanEck’s HODL.
Bloomberg: BTC Near Historical Bear Market Bottom Range of $45,000–$55,000
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Summary
According to Bloomberg, BTC’s price is nearing a potential bottom range of $45,000–$55,000. After a nearly 50% decline since October, the MVRV Z Score has dropped to 0.38, indicating undervaluation. Key support levels are near $54,000 and $58,000. The BTC market update shows spot ETF inflows exceeded $1.6 billion in one month, led by BlackRock’s IBIT and VanEck’s HODL.
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