🔥 $58,523 was the cycle low! According to on-chain data and historical analysis, the lowest point was recorded on June 30, when Bitcoin touched $58,500. At that time, the percentile reached its lowest level of the entire cycle, exactly matching the 2.4 percentile of the previous cycle’s low (where BTC hit $15,700). What could possibly be so extreme as to fall further? Breaking below that percentile and dropping below 2.4—but that would be extremely atypical and rare, though still possible. Anything can happen in this market, but I’m 85% confident that $58K was the definitive bottom of this cycle. Note: The price may retest $59K or $60K, but I don’t see enough strength to break below $58K. That’s my take for the day.
DragonCripShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.