{"id":178088,"date":"2026-06-10T12:29:05","date_gmt":"2026-06-10T12:29:05","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=178088"},"modified":"2026-06-10T12:29:05","modified_gmt":"2026-06-10T12:29:05","slug":"every-time-this-bitcoin-metric-crossed-this-level-the-market-bottomed-it-just-happened-again","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=178088","title":{"rendered":"Every Time This Bitcoin Metric Crossed This Level, The Market Bottomed \u2014 It Just Happened Again"},"content":{"rendered":"

Bitcoin closed the week of June 5 with a nearly 20% decline \u2014 its sharpest single-week drop since the FTX collapse in November 2022 \u2014 but on-chain analyst Ali Martinez is pushing back against the prevailing fear, arguing in a technical post on X<\/a> that the market is approaching a major macro accumulation cycle rather than the beginning of a deeper structural breakdown.<\/strong><\/p>\n

Martinez\u2019s case rests on a convergence of on-chain metrics that have historically accompanied market bottoms rather than preceded further selling. Bitcoin\u2019s decline to $59,000 \u2014 its lowest level since 2024 \u2014 flushed out what he describes as \u201coverleveraged premiums\u201d across the board, per his X post. That kind of forced deleveraging, he argues, is typically what creates the conditions for a genuine bottom rather than a temporary bounce.<\/p>\n\n

The Bitcoin Metrics Behind The Call<\/h2>\n

Two data points sit at the center of Martinez\u2019s analysis. The first is long-term holder behavior. During the recent downswing, long-term investors distributed more than $3.25 billion in spot Bitcoin, temporarily pushing exchange reserves higher and increasing potential short-term selling pressure. That distribution, Martinez notes, is consistent with what has historically marked the final phase of supply absorption before accumulation begins.<\/p>\n

The second is supply held at a loss. Bitcoin\u2019s drop to $59,000 pushed more than 10.46 million BTC into an underwater position. According to Martinez\u2019s post, every previous instance where the supply-in-loss metric crossed the 10 million threshold has accurately timed macro bottoms in prior cycles \u2014 a signal he considers one of the most reliable indicators available.<\/p>\n

Bitcoin $BTC<\/a> market bottom is closer than you think.<\/p>\n

Here\u2019s where I\u2019m planning to buy. https:\/\/t.co\/DrI4OJXnL7<\/a> pic.twitter.com\/j3YQNzw02G<\/a><\/p>\n

\u2014 Ali Charts (@alicharts) June 10, 2026<\/a>\u00a0<\/p>\n

Where The Bottom Could Land<\/h2>\n

Rather than calling a specific price floor, Martinez identified two accumulation zones based on MVRV band analysis \u2014 the ratio of Bitcoin\u2019s market value to its realized value. The most reliable accumulation windows historically appear when MVRV settles between the 1.0 and 0.8 bands, which currently correspond to approximately $53,900 and $43,150, per his analysis. He is also tracking three key moving averages as structural reference points: the 200-week simple moving average at $62,800, the 300-week at $55,000, and the 400-week at $42,500.<\/p>\n

Fellow analyst Benjamin Cowen separately echoed the assessment, telling his audience that investor psychology is approaching the territory historically associated with major cycle bottoms \u2014 a phase he estimates could extend through Q3 and potentially into October.<\/p>\n

As of this writing, Bitcoin trades at around $63,000, recovering from the $59,000 lows as the market processes whether the worst week since FTX marked a capitulation bottom or simply the latest step in a longer correction.<\/p>\n

Cover image from Grok, BTCUD chart from Tradingview<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin closed the week of June 5 with a nearly 20% decline \u2014 its sharpest single-week drop since the FTX collapse in November 2022 \u2014 but on-chain analyst Ali Martinez is pushing back against the prevailing fear, arguing in a technical post on X that the market is approaching a major macro accumulation cycle rather […]<\/p>\n","protected":false},"author":0,"featured_media":178089,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-178088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/178088"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=178088"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/178088\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/178089"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=178088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=178088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=178088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}