Has Bitcoin Reached its Lowest Point? Market Indicators Suggest the Worst of the Decline Might be Over

Following a substantial correction due to geopolitical tensions, Bitcoin (BTC) may have reached its lowest point during this downturn, as per a report from Bitfinex. The report suggests that market behaviour, historical data, and specific metrics such as Bitcoin Net Taker Volume hint that the correction might not continue further. The plunge aligns with the cycle median drawdown of 7%, indicating a healthy consolidation phase rather than a deeper structural correction.

Despite geopolitical tensions triggering a spike in BTC selling activity, panic selling may have exhausted weaker market participants, allowing larger players to accumulate the asset. This, combined with low readings in Net Taker Volume, has often coincided with local BTC bottoms, suggesting a potential recovery.