After weeks of renewed optimism, many in the Bitcoin market now believe the 
tide could finally be turning. While the premier cryptocurrency&#8217;s price action 
has been steadily turning around since the start of April, the current on- 
chain structure suggests expectations might be overestimated. According to an 
on-chain analyst, BTC&#8217;s recovery process is unlikely to occur in a few weeks. 
Bitcoin Bottom Could Take Six Months To Form: Analyst In a May 2nd post on the 
X platform, crypto pundit Axel Adler Jr. shared an on-chain insight into the 
recovery path of Bitcoin, the world&#8217;s largest cryptocurrency by market 
capitalization. This on-chain observation is based on an adjusted model of the 
Realized Price Bands metric that reflects the average cost basis of different 
market participants. Related Reading: Bitcoin Could Be One Breakout Away From 
A Structural Shift: Analysts The Adjusted Realized Price Bands model is 
calibrated to only account for Bitcoin&#8217;s live circulating supply, filtering 
the effect of the dormant — albeit significant — portion of the coin&#8217;s total 
supply. This metric shows when significant holders, who are likely to make 
market decisions, are at a loss or near a loss, signaling historical 
accumulation zones. Highlighting data from CryptoQuant, Adler Jr. revealed 
that the lower bound of the Adjusted Realized Price Bands model, known as the 
&#8220;RP Alive,&#8221; is now below $59,000. According to the on-chain analyst, this 
price zone could mark the start of a Bitcoin bottom formation, suggesting the 
market leader might still have one more leg down. Adler Jr., however, noted 
that Bitcoin&#8217;s price being near the bottom doesn&#8217;t guarantee an immediate 
reversal, as bottom formation isn&#8217;t a &#8220;one or two week process.&#8221; The analyst 
postulated that the base case for the bottom formation is around six months. 
BTC Bottom Formation Depends On Return Of Market Demand Adler Jr. further 
explained the rationale for the six-month base case conclusion, noting that 
demand remains the core driver of bottom formations. The on-chain analyst then 
mentioned that real demand forms only over the long term, not on emotion or 
local bounces. In essence, the on-chain analyst believes the bottom formation 
will only begin when the investors start to &#8220;see forward-looking value again,&#8221; 
and genuine spot demand returns to the market. Unfortunately, recent on-chain 
data shows that BTC&#8217;s apparent demand remains weak. As of this writing, the 
price of BTC is around $78,458, with no significant movement in the past 24 
hours. According to data from CoinGecko, the flagship cryptocurrency is up 
nearly 2% on the weekly timeframe. Related Reading: Dogecoin Inverted Scale 
Shows A Sharp Drop, But Something Is Interesting About This Chart Featured 
image from iStock, chart from TradingView

After weeks of renewed optimism, many in the Bitcoin market now believe the tide could finally be turning. While the premier cryptocurrency&#8217;s price action has been steadily turning around since the start of April, the current on- chain structure suggests expectations might be overestimated. According to an on-chain analyst, BTC&#8217;s recovery process is unlikely to &#8230;

Bitcoin Bottom Zone Now Lies Around $59,000 Based On This On-Chain Metric

Binance Wallet has rolled out Event Rush, a 42.space powered dApp on BNB Chain 
that lets verified users buy and trade tokens representing real world event 
outcomes using USDT on BSC. According to the official announcement, Event Rush 
is integrated…

Binance Wallet has rolled out Event Rush, a 42.space powered dApp on BNB Chain that lets verified users buy and trade tokens representing real world event outcomes using USDT on BSC. According to the official announcement, Event Rush is integrated…

Binance Wallet Event Rush turns on chain events into tradable markets

ESPORTS lost more than 90% of its market value in under two hours after 
wallets tied to the project unloaded roughly 178 million tokens into thin 
liquidity, with part of the flow routed through Kraken addresses associated 
with DWF Labs.…

ESPORTS lost more than 90% of its market value in under two hours after wallets tied to the project unloaded roughly 178 million tokens into thin liquidity, with part of the flow routed through Kraken addresses associated with DWF Labs.…

ESPORTS flash crash wipes out over 90% after DWF linked dump

A blockchain based storytelling project begins its first public rollout across 
the United States Wadoozie, an Ethereum based project combining narrative 
worldbuilding with blockchain infrastructure, will begin its first public 
activation phase on May 27, 2026. Centred around a concept called “The Drift,” 
Wadoozie explores the fragmentation of online communities and digital culture 
through a […]

A blockchain based storytelling project begins its first public rollout across the United States Wadoozie, an Ethereum based project combining narrative worldbuilding with blockchain infrastructure, will begin its first public activation phase on May 27, 2026. Centred around a concept called “The Drift,” Wadoozie explores the fragmentation of online communities and digital culture through a &#8230;

Wadoozie Activates its Ethereum Powered Signal Network on May 27, 2026

Hyperliquid’s HYPE token has surged to record highs, but the rally is being 
powered less by institutional ETF demand and more by an aggressive protocol- 
driven buyback system. The mechanism has created a powerful feedback loop 
tying HYPE’s price directly to trading activity on the exchange. Hyperliquid’s 
Rally Is Being Driven by Its Buyback Machine, Not […]

Hyperliquid’s HYPE token has surged to record highs, but the rally is being powered less by institutional ETF demand and more by an aggressive protocol- driven buyback system. The mechanism has created a powerful feedback loop tying HYPE’s price directly to trading activity on the exchange. Hyperliquid’s Rally Is Being Driven by Its Buyback Machine, &#8230;

Hyperliquid Buys Back $1.16B HYPE as Token Price Hits Record Highs

Ethereum Layer 2 co-founder Tom Lehman has renewed efforts to include EIP-8182 
in Ethereum’s planned Hegota upgrade, proposing a protocol-level privacy 
system for private ETH and ERC-20 transfers. According to a proposal Lehman 
highlighted on Friday, EIP-8182 would introduce a…

Ethereum Layer 2 co-founder Tom Lehman has renewed efforts to include EIP-8182 in Ethereum’s planned Hegota upgrade, proposing a protocol-level privacy system for private ETH and ERC-20 transfers. According to a proposal Lehman highlighted on Friday, EIP-8182 would introduce a…

Bitcoin Bottom Zone Now Lies Around $59,000 Based On This On-Chain Metric

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