Onchain analyst James Check points to $58K as the potential cycle bottom for Bitcoin, driven by two major capitulation phases. While many traders anxiously wait for a deeper correction or anchor to old October targets, onchain data often reveals a different reality than market sentiment. If these metrics hold true, the worst of the flush-out might already be behind us, setting the stage for a stronger structural recovery moving forward. $BTC #Bitcoin #CryptoAnalysis #OnchainData