Bitcoin Metrics Suggest February $60,000 Sell-Off Marked Cycle Low
— CoinDesk
Bitcoin metrics indicate the February sell-off may have established a cycle low.
Bitcoin metrics indicate the $60,000 sell-off in February may have marked a cycle low, supported by realized cap stabilization and negative funding rates.
- Realized cap stabilization and elevated RHODL readings suggest Bitcoin bottoming.
- Deep negative funding rates reflect prevailing short position pressure.
- These metrics point to a potential Bitcoin cycle low forming early 2024.
Realized cap and RHODL metrics show reduced selling pressure and long-term holding, while negative funding rates highlight short interest, collectively signaling a possible Bitcoin price bottom.