Analyst Willy Woo has highlighted how some old-school Bitcoin on-chain models 
could suggest a bottoming zone for the asset in the current cycle. Bitcoin 
Bottomed Between Realized Price &amp; CVDD In Past Bear Markets In a new post on 
X, analyst Willy Woo has talked about where the Bitcoin bottom could lie 
according to two on-chain models. The models in question are the Realized 
Price and CVDD. Related Reading: KPMG, PwC Involved In Tether’s First-Ever 
Audit: Report First, the &#8220;Realized Price&#8221; keeps track of the cost basis or 
acquisition value of the average token part of the cryptocurrency&#8217;s 
circulating supply. Whenever the spot price is above this metric, the 
investors as a whole could be assumed to be in a state of net unrealized 
profit. Similarly, the asset being below the level can imply the dominance of 
loss on the blockchain. As shown in the chart shared by Woo, the Bitcoin 
Realized Price has been sliding down recently, meaning that average investor 
cost basis has been declining. In other words, the average capital invested 
per holder is down, so some net capital could be considered to have left the 
cryptocurrency. Following the drawdown in the Realized Price since November, 
its value has dropped to around $54,200. So far in the latest bearish market 
phase, Bitcoin has yet to retest this level. From the chart, it&#8217;s visible that 
past bear markets found their bottoms when BTC was below the indicator. 
Interestingly, the other model in the chart, the CVDD, served as a sort of 
lower bound across these cycles, with BTC never dipping below it. The CVDD, 
standing for Cumulative Value Days Destroyed, is an indicator created by Woo 
that derives from the popular Coin Days Destroyed (CDD) metric. A &#8220;coin day&#8221; 
is a quantity that 1 BTC accumulates after being dormant on the blockchain for 
1 day. When a token dormant for some number of days is moved, its coin days 
reset back to zero and are said to be destroyed. The CDD measures the number 
of coin days being reset across the network in this manner. The CVDD goes a 
step further and attaches a USD value to each of these coin days, based on the 
BTC price at the time, and takes their cumulative sum. Additionally, it 
applies a normalization factor by taking the sum&#8217;s ratio with the total age of 
the market (in days). Related Reading: Bitcoin Unrealized Loss Hits 15% Of 
Market Cap—Still Below FTX Capitulation Levels Today, the Bitcoin CVDD is 
sitting at $45,500. If the pattern from the last few cycles is anything to go 
by, it&#8217;s possible that BTC could find a bottom somewhere between this level 
and the Realized Price at $54,200. That said, the analyst also added a 
caution, noting: Models use past behaviour… there&#8217;s only been 4 prior bear 
markets and they have been inside a secular bull market in risk equities. If 
that foundation collapses, we will be in uncharted territory (deeper bear). 
BTC Price Bitcoin has again failed to maintain its recovery as its price has 
slipped to the $67,200 mark. Featured image from Dall-E, chart from 
TradingView.com

OG Bitcoin On-Chain Models Could Hint At $46,000-$54,000 Floor: Analyst

Bitmine Immersion Technologies has lifted its ether holdings to 4.73M ETH, 
staking $6.3B at a $2,005 reference price as it doubles down on Ethereum’s 
yield. Ethereum treasury company Bitmine Immersion Technologies has quietly 
become one of the largest known ether…

Bitmine quietly amasses 4.7m ether as staking bet tops $6.3b

Mohammad Bagher Ghalibaf, the speaker of Iran’s parliament, posted a striking 
piece of market commentary on X before the latest futures swing. Adding fuel 
to the online propaganda proxy war being fought on social media, the comments 
lean into accusations of insider trading on Polymarket war bets. “Pre-market 
so-called ‘news’ or ‘Truth’ is often just […]
The post Iran Speaker predicts pre-market “reverse indicator” then Bitcoin 
climbed before the S&amp;P500 appeared first on CryptoSlate.

Iran Speaker predicts pre-market “reverse indicator” then Bitcoin climbed before the S&P500

Ahead of the November midterm elections, backers are lining up behind a new 
hybrid political action committee that allows contributions directly to 
candidates.

Chainlink and Anchorage Digital back launch of crypto-aligned PAC

Onchain data shows inflows to accumulation addresses topping 67,000 BTC, while 
total outflows from Bitcoin miners fell to levels not seen since 2024.

Cryptocurrency price in VEF