đ¨$BTC UPDATE
Bitcoinâs recovery from the $57K low has definitely changed the marketâs tone, but calling it the final bottom may still be premature.
BTC has rebounded more than 40% from the July low and recently pushed toward $87K, while traders are already discussing a potential $100K reclaim. The price action looks strong, but the bigger-cycle picture is less straightforward.
Glassnodeâs historical data shows that previous major cycle bottoms came after drawdowns of more than 80%. Compared with that history, the current correction is still relatively shallow at roughly 30% from the cycle high. If the historical cycle pattern holds, Bitcoin could still need more time before establishing a definitive low.
At the same time, on-chain behavior is telling a different story. Wallets holding 100â1,000 BTC have reportedly accumulated around 113,950 BTC since mid-July, suggesting larger holders have been adding exposure during the recovery.
That leaves BTC at an interesting crossroads.
The technical recovery and accumulation are constructive, but the historical cycle structure hasnât completely confirmed a final bottom yet.
For me, the key question isnât whether Bitcoin can rally from here â itâs whether this recovery can hold through Q4 volatility and turn the $57K area into a confirmed cycle low.
#updates #news #btc
Bitcoinâs recovery from the $57K low has definitely changed the marketâs tone, but calling it the final bottom may still be premature.
BTC has rebounded more than 40% from the July low and recently pushed toward $87K, while traders are already discussing a potential $100K reclaim. The price action looks strong, but the bigger-cycle picture is less straightforward.
Glassnodeâs historical data shows that previous major cycle bottoms came after drawdowns of more than 80%. Compared with that history, the current correction is still relatively shallow at roughly 30% from the cycle high. If the historical cycle pattern holds, Bitcoin could still need more time before establishing a definitive low.
At the same time, on-chain behavior is telling a different story. Wallets holding 100â1,000 BTC have reportedly accumulated around 113,950 BTC since mid-July, suggesting larger holders have been adding exposure during the recovery.
That leaves BTC at an interesting crossroads.
The technical recovery and accumulation are constructive, but the historical cycle structure hasnât completely confirmed a final bottom yet.
For me, the key question isnât whether Bitcoin can rally from here â itâs whether this recovery can hold through Q4 volatility and turn the $57K area into a confirmed cycle low.
#updates #news #btc
