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The price of bitcoin (btc) fell to a new annual minimum of $ 78,258 on February 27, which led some analysts to suggest that cryptocurrency is now in an optimal purchase zone.
bitcoin 1 day graph. Source: cointelegraph/tradingView
60 -day bitcoin RCV suggestions with low risk accumulation
Crazzyblock, a bitcoin merchant and analyst verified in Cryptoquant saying bitcoin's 60 -day RCV reached its lowest level of -1.9 in the graph, indicating an optimal DCA opportunity 'for the first time since July 2024.
60 -day bitcoin RCV graph. Source: Cryptoquant
The 60 -day value for the market capitalization variance (RCV) is a metric that calculates the 60 -day retention average and the standard deviation of the btc price. According to the metric, every time the RCV value is below 0.30, it indicates a low risk investment in the asset. A value between 0.30-0.50 implies a neutral environment, and above 0.5 means a high risk of total sale.
The analyst pointed Outside that the metric has been historically precise to identify undervaluation and overvaluation trends for btc, and the current normalized RCV value presents a favorable purchase opportunity based on the “historical dynamic of risk reward.” btc's proponent added,
“Long -term investors should consider climbing in btc positions through a DCA strategy, since risk adjusted conditions remain optimal.”
In 2024, the RCV value showed a DCA signal between May and July, where bitcoin fluctuated between $ 70,000 and $ 50,000. Therefore, it is essential to keep in mind that the RCV does not indicate a fund, but highlights the high probability of low risk of long -term profits.
Yansei Dent cryptographic analyst pointed Over that the head of bitcoin SOPR (worn production ratio), which monitors profits or losses made, had reached an acute deviation below the lower bomb band.
bitcoin SOPR SOPR deviation data. Source: Cryptoquant
According to such deviations, btc has registered a short-term rebound between 8%-42%, with also obvious recoveries during the 2022 bears market.
Related: How low can the price of bitcoin go?
bitcoin wallets with more than 10 btc overturned 6,813 coins
Santiment data suggests that the btc price has been correlated with the accumulation and distribution behavior of wallets that have more than 10 btc. Every time these directions accumulate, bitcoin progressively increases in value.
Santiment too <a target="_blank" data-ct-non-breakable="null" href="https://x.com/santimentfeed/status/1894855749890867224″ rel=”nofollow noopener” target=”_blank” text=”null” title=”https://x.com/santimentfeed/status/1894855749890867224″>outstanding That the “key stakeholders” have thrown approximately 6,813 btc during the past week, their most extensive distribution since July 2024.
Similarly, Ki-Young Ju <a target="_blank" data-ct-non-breakable="null" href="https://x.com/ki_young_ju/status/1895040191901114540″ rel=”null” target=”null” text=”null” title=”null”>pointed Over that bitcoin's ETF Spot demand is weak, suggesting that a “price recovery could take some time.”
Related: Is btc Price about to fill a bitcoin futures gap of $ 78k?
This article does not contain advice or investment recommendations. Each investment and trade movement implies risk, and readers must carry out their own investigation by making a decision.
