Bitcoin (BTC) prices have fallen to the new annual low of $ 78,258 every year on February 27, and some analysts suggest that cryptocurrency is currently in the best purchase area.
Bitcoin 1 day chart. Source: COINTELEGRAPH/TradingView
Bitcoin’s 60 -day RCV is a hint for low risk accumulation.
CRAZZYBLOCK, Cryptoquant’s Bitcoin merchant and proven analyst, said Bitcoin’s 60 -day RCV reached the minimum level of -1.9 on the chart, showing the first ‘best DCA opportunity’ since July 2024.
Bitcoin 60 -day RCV chart. Source: cryptoquant
The 60 -day market cap distribution (RCV) is a metric that calculates the 60 -day rolling average and standard deviation of the BTC price. According to the metrics, every time the RCV value is less than 0.30, it indicates an investment at a low risk of assets. The value between 0.30-0.50 means neutral environment and 0.5 or higher means high selling risk.
Analysts pointed out that this metrics are historically accurate in identifying over -evaluation and over -evaluation trends of BTC, and the current normalized RCV values provide a favorable purchase opportunity based on “historical risk compensation mechanics.” BTC supporters have been added.
“Long -term investors should consider the expansion of the BTC position through the DCA strategy because the risk adjustment conditions are maintained optimally.”
In 2024, the RCV price flashed a DCA signal between May and July, and Bitcoin fluctuated between $ 70,000 and $ 50,000. Therefore, it should be noted that RCV emphasizes the risk of low chance of gaining profit in the long run without notifying the floor.
Loversii dent, a crypto analyst, pointed out that Bitcoin’s short -term holder SOP (consumed output profit ratio), which realizes profits or losses, has reached rapid deviation under the bottom bowling band.
Bitcoin SOPRARES deviation data. Source: cryptoquant
Based on these deviations, BTC has registered a short-term rebound between 8%-42%, and recovery is clear in the Bear market in 2022.
Related: How low can Bitcoin prices go?
10+ Bitcoin Wallet with BTC Dump 6,813 Coins
According to the data from Santiment, the price of the BTC suggests that it is associated with the accumulation and distribution of wallets with 10+ BTCs. Whenever these addresses accumulate, Bitcoin gradually increases.
Bitcoin whale and shark accumulation chart. Source: x.com
SANTIMENT has also abandoned about 6,813 BTCs over the last week, which has recorded the most widespread distribution since July 2024.
Similarly, Ki-Young Ju pointed out that Bitcoin’s SPOT ETF demand is weak and suggested that it can take time to recover price.
Related: Is the BTC price of $ 78K Bitcoin futures gap?
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.