BTC speculators in focus as analysis says 'textbook Bitcoin bottom' is underway
Bitcoin is showing signs of a bear-market bottom, with multiple indicators suggesting the worst of the downtrend may be over. One quant analysis says BTC is back in a key reversal zone near the 200-week simple moving average and a historically important valuation quantile that also marked the 2020 and 2022 lows. Another bullish signal comes from short-term holders: their spent output profit ratio has turned positive, meaning recent buyers are realizing profits, which often aligns with bull-market conditions. Still, caution remains. Some onchain analysts say the short-term holder capitulation signal is not yet deep enough to confirm a final bottom, and further downside or a stronger flush could still occur before a durable reversal. Overall, the market looks cooled and closer to a bottom than a peak, but confirmation may require more capitulation.
