Bitcoin: Why THESE signals point to $60K as BTC’s cycle low
Bitcoin (BTC) has experienced a significant decline, trading at $66,988 with a 1.75% daily drop and a 46% decrease from its all-time high. Despite the bearish trend, key metrics suggest a potential cycle bottom. The short-term Sharpe Ratio fell to -38, a level historically seen at major cycle lows in 2015, 2019, and 2022, indicating seller exhaustion. Additionally, Bitcoin’s Stock-to-Flow Ratio reached a new high of 261, signaling increased scarcity and reduced selling pressure. The MVRV Z-Score dropped to 0.445, reflecting extreme bearish sentiment and a wealth transfer from weak to strong hands. While the RSI remains low at 32 and the downtrend persists, these metrics hint at a possible market recovery, with targets towards $90k if support holds.
ambcrypto02/20 01:31
