Analysis finds BTC on-chain signals similar to past market bottoms

Bitcoin is showing on-chain indicators similar to those seen in past bottoming phases from a four-year cycle perspective, according to an analysis by crypto analyst Crypto Dan. Crypto Dan said the share of coins held for one week to one month based on Bitcoin’s realized market capitalization has fallen to around 5%, while the price has been moving sideways after a correction. Crypto Dan added that it is still too early to be certain a cycle bottom has formed, but, as in past bottoming phases, investor participation has clearly weakened and market interest has cooled. If a new upcycle resumes in 2027, the current range could be viewed as undervalued, Crypto Dan said.