Bitcoin’s (BTC) low readings on the daily and two-week Relative Strength Index (RSI) coincide with an ongoing rally across several investor cohorts, bolstering what one analyst called the “best case” to buy BTC.
Onchain data shows that wallets holding 1,000 – 10,000 BTC have added more than 53,000 BTC in the past 60 days, while smaller retail investors have also increased their holdings.
BTC accumulation is growing in key groups
MN Capital founder Michael van de Poppe highlighted Historically weak readings of Bitcoin momentum as a potential long-term opportunity.
“Bitcoin’s lowest reading on 2-week RSI and daily RSI EVER. It’s the best thesis to accumulate and buy your Bitcoin,” van de Poppe said, adding that panic selling could continue as it presents rare buying opportunities.
Onchain data supports part of that representation. Glassnode’s Accumulation Trend Score shows strongest buying activity among smallholders and select mid-sized investors. BTC wallets holding less than 0.1 BTC recorded a score of 0.78, the highest among the monitored cohorts. The 10–100 BTC group follows with a score of 0.71, signaling consistent accumulation over recent weeks.
The result of the bitcoin accumulation trend. Source: CryptoQuant
Some larger owners were also active buyers. Over the past 60 days, wallets holding 1,000 – 10,000 BTC have added 53,042 BTC, the largest increase among all groups. Addresses holding 100–1,000 BTC accumulated another 12,233 BTC, while the 10–100 BTC group added 1,283 BTC.
However, a different picture emerged among the largest subjects. BTC wallets holding more than 10,000 BTC reduced their balances by 39,840 BTC during the same period. Smaller groups holding between 1 and 10 BTC also reduced their exposure. The positioning split indicates continued demand from whales below the top cohort and from small investors piling in on the weakness.
Bitcoin Accumulation vs. Distribution (60-Day Change). Source: CryptoQuant
Related: Bitcoin Price Around $90,000 As BTC’s FTX-Era Bullish Divergence Flashes Again
Analysts are mapping potential bottom zones below $60,000
Titan of Crypto Market Analyst highlighted quarterly fair value gap (FVG) between $56,800 and $44,600. FVG is a price imbalance that occurs when Bitcoin moves sharply in one direction for a short period of time, leaving a zone with relatively little trading activity.
BTC and FVG Quarterly Price Analysis by Titan of Crypto. Source: X
The three-month chart shows that Bitcoin revisited similar disequilibrium zones created in 2011, 2013, 2017 and 2020 before establishing a bottom. The latest gap, created in 2024, remains unfilled, making the $56,800-$44,600 range an important framework if the current correction extends further.
Meanwhile, Glassnode co-founder Rafael pointed to Bitcoin’s Cumulative Days Destroyed to Price (CVDD) ratio, a long-term valuation metric that compares market price to a historical cost floor derived from coin holding behavior. The ratio is currently near 0.73 and has historically approached 1.0 near the bottom of major cycles.
With CVDD bottoming near $46,000, Rafael said a similar pattern would set a potential bottom in the $52,000-$59,000 range.
Bitcoin CVDD ratio. Source: Rafael/X
Related: Spot Bitcoin ETFs Lose $1.7 Billion As Outflow Runs For Four Weeks
