Glassnode: Bitcoin or bottom range has a high probability of hitting the bottom or at the bottom of $46,000-$54,000

Rafael, co-founder of Glassnode, issued an article analyzing the trend of Bitcoin prices. He pointed out that Bitcoin is currently in the US$62,000 range, which has fallen by nearly 50% from its historical high. In the past month, the price has fallen by 24%. The upper level of its pricing framework has entered the valuation cluster area where the bottom of the historical cycle has appeared. Rafael further pointed out that the market bottom cannot be confirmed in advance, and potential bottoming signals can only be defined through probability intervals and key price levels. Bitcoin fell below the median holder break-even line for the first time (for the first time since December 2022) and is currently in a broader support range: the median realized price is around $64,100 and the 200-week moving average is around $61,700. The current high-probability bottom range may be US$46,000-US$54,000. The US$35,000-US$40,000 below this range is a rare "selling tail". It should be noted that the cyclical correction is gradually decreasing: previous rounds The lows fell by about 85%, 84%, and 77%, and this round only fell by about 50%, which means that the high-probability bottom is more likely to be in the upper range, but the possibility of extreme selling is not ruled out.