While the bitcoin market continues to experience a flurry of sell-offs that began in mid-October, recent data on the chain paints a somewhat optimistic picture of the cryptocurrency’s future. The question is — is Bitcoin at the bottom?
Is a BTC price reversal imminent?
In a recent Quicktake post on the CryptoQuant platform, pseudonymous crypto expert Sunny Mom divided that the formation of a bottom for the price of Bitcoin may be around the corner. Sunny Mom’s post was based on four different on-chain metrics, all of which looked at the behavior of Bitcoin market participants.
The first of these is the CVD (Cumulative Volume Delta, 90-day) metric, which helps track the net difference between aggressive buying and selling volumes (called taker orders) in the Bitcoin futures market over the past 90 days.
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According to the online expert, the more dominant selling zones (red) are turning into neutral zones. This means that leveraged short positions (usually held by the most fearsome and aggressive participants in the Bitcoin market) are slowly retreating, indicating a weakening of these speculative hands.
Next, the chain analyst provided data from the Spot Taker CVD metric (cumulative volume delta, 90 days). Although the number of speculative sellers is decreasing, spot CVD still appears to be in the red. Typically, a ‘red’ reading of this metric suggests that Bitcoin holders are still selling their coins.
Another interesting development is that the Bitcoin:Stablecoin Supply Ratio (SSR) has hit an all-time low. For context, this metric measures the ratio between the supply of Bitcoin and the supply of stablecoins (such as USDT and USDC).
A high SSR indicates that there are fewer stablecoins compared to Bitcoin. As an extension, it is pointed out that there is less purchasing power to buy Bitcoin to increase its price. On the other hand, a low SSR indicates a relative abundance of stablecoins compared to the mainstream cryptocurrency, indicating the presence of greater potential purchasing power in the Bitcoin market.
After examining past price action, it is evident that periods where SSR read ‘significantly low’ were often preceded by significant price spikes in the leading cryptocurrency. If history is anything to go by, the analyst concluded that we could be set for another recovery, as the SSR metric is currently hovering around an all-time low.
Finally, Sunny Mom explained that data from the Adjusted Sent Output Profit Ratio (aSOPR) also supports the overall assumption of a near bottom in price. Currently, the aSOPR is around 1.0 — a level whose breakout in April 2025 preceded a major price reversal.
Bitcoin price at a glance
At the time of writing, the price of BTC is around $102,510, reflecting an increase of over 1% in the last 24 hours.
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Featured image from iStock, chart from TradingView
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