Over the previous week, Bitcoin has traded sideways within the excessive $70,000 area, unable to reclaim the psychological $82,000 stage that has eluded market bulls since mid-Might. Notably, the $76,000 value stage has now been examined three weeks in a row and held every time, rising as an actual assist zone. Nevertheless, an obscure on-chain metric could also be flashing the clearest backside sign in Bitcoin’s historical past.
Key Bearish Sign Arises From Investor Value Foundation Knowledge
In an X submit on Might 22, CryptoChan shares information from an traditionally dependable backside indicator constructed from two realized value bands: the 6m–10y Realized Worth, representing the common acquisition price of long-term holders, presently at $60,316; and the 0–10y Realized Worth, a broader market common price foundation, sitting at $64,412. The ratio between these two bands signifies how careworn long-term holders are relative to the broader market. When it drops under 0.936 after which recovers again towards 1.0, it has marked the exact backside second in each prior Bitcoin cycle.
🚨 历史经验表明，当黑线逼近绿线，往往也正是熊市尾声与历史级大底的标志性信号
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📊【#BTC 四年周期系列更新】当前图中指标已升至 0.9362015年熊底该指标从 0.936 升到 1，花费 59天
18-19年熊底该指标从 0.936 升到 1，花费 66天… https://t.co/pOwvk1rsDu pic.twitter.com/kr6P4m7bBy— CryptoChan (@0xCryptoChan) Might 22, 2026
It’s because when the ratio touches 1.0, the inexperienced line (long-term holder price) overtakes the black line (full market price), which means even essentially the most conviction-driven holders are underwater. That’s the second when promoting stress is totally exhausted, and market sentiment is in excessive panic. Within the 2015 bear market backside, the ratio took 59 days to climb from 0.936 again to 1.0. Within the 2018–2019 bear backside, the restoration took 66 days. Within the November 2022 FTX collapse-driven backside, the journey took 50 days. The ratio is presently at 0.936 once more. If the present studying holds and historic information repeats itself, Bitcoin’s definitive backside window could open someday round mid-to-late July 2026.
Bitcoin Worth Overview
On the time of writing, Bitcoin is valued at $75,269, following a 2.84% loss within the final week. In tandem, the asset’s efficiency on bigger timeframes can be unfavorable, with declines of 4.65% and three.55% on the weekly and month-to-month charts, respectively.
In line with information from Coincodex, the Worry & Greed Index stands at 28, indicating that concern is considerably affecting the market. However, CoinCodex analysts are backing a brief squeeze towards $83,354 over the following 5 days. In a month, they predict a return to $77,741. Nevertheless, their three-month projection factors to a $90,529 value goal, suggesting a possible 16% achieve over present market costs.
Featured picture from Pixelz.cc, chart from Tradingview
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