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

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

The increased US military presence in the Middle East heightens regional 
instability, potentially escalating conflicts and impacting global markets.
The post US military aircraft surge towards Middle East amid Iran tensions 
appeared first on Crypto Briefing.

US military aircraft surge towards Middle East amid Iran tensions

The escalation reduces ceasefire prospects, potentially prolonging regional 
instability and impacting global geopolitical and economic dynamics.
The post Russia-Ukraine conflict escalates with renewed strikes, dimming 
ceasefire hopes appeared first on Crypto Briefing.

Russia-Ukraine conflict escalates with renewed strikes, dimming ceasefire hopes

The US-Iran conflict heightens economic volatility, potentially delaying Fed 
rate cuts due to inflationary pressures and tighter credit.
The post US-Iran war impacts credit markets, dims 2026 Fed rate cut prospects 
appeared first on Crypto Briefing.

US-Iran war impacts credit markets, dims 2026 Fed rate cut prospects

BitMine&#8217;s strategy may catalyze institutional adoption of Ethereum, enhancing 
its role as a macroeconomic hedge and store of value.
The post BitMine&#8217;s 4.5M ETH stake strategy boosts confidence in $5,000 May 
target appeared first on Crypto Briefing.

BitMine’s 4.5M ETH stake strategy boosts confidence in $5,000 May target

Global equity funds pulled in over $15 billion in the week through Apr. 1, 
then $23.47 billion, $31.26 billion, and finally $48.72 billion in the week 
through Apr. 22. Global money-market funds simultaneously bled a $173.24 
billion outflow in the week through Apr. 15, the biggest single-week exit from 
cash since at least September 2018. […]
The post Wall Street’s $292 billion risk-on rotation just created a new 
bullish setup for Bitcoin appeared first on CryptoSlate.

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

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