Odaily Planet Daily reports that on-chain analyst James Check states that multiple technical and on-chain mean reversion models indicate Bitcoin is currently in a “textbook bottoming phase.” Historically, this stage often occurs after panic selling. Both technical indicators and on-chain valuation models have now fallen back to levels similar to historic lows in December 2018 and June 2022. While prices may still decline further, the real test for bulls will be “entry timing” rather than “price.” James Check summarized: “This is a typical de-risking structure for Bitcoin. If you don’t choose to accumulate Bitcoin at this stage, when are you planning to do so?” (CoinDesk)
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