'Best thesis' for Bitcoin accumulation surfaces despite current downside risk: Analyst
Bitcoin’s daily and 2-week RSI have fallen to record lows while onchain data shows broad accumulation, suggesting a possible long-term buying setup despite ongoing weakness. Wallets holding 1,000–10,000 BTC added more than 53,000 BTC over the past 60 days, while 100–1,000 BTC wallets added 12,233 BTC. Smaller holders also accumulated, with the sub-0.1 BTC cohort showing the strongest accumulation trend score. In contrast, wallets with over 10,000 BTC cut holdings by nearly 39,840 BTC, and 1–10 BTC wallets also reduced exposure. Technical models point to possible support zones below $60,000. A quarterly fair value gap spans roughly $56,800 to $44,600, and a long-term valuation metric, CVDD, suggests a potential bottom range near $52,000–$59,000, with $46,000 acting as a deeper floor.
