Analyst: $60000 may become a new accumulation area for Bitcoin, with a focus on $48000 at the bottom of the cycle Odaily Planet Daily News: CryptoQuant analyst Axel Adler Jr. wrote that Bitcoin may have entered a new accumulation zone, but the potential structural bottom of this cycle is still at around $48000. At present, the adjusted seller risk ratio of Bitcoin has entered the red zone for the first time when it falls below $60000, indicating that the loss supply is beginning to exceed the profit supply, and the pressure on holders has not significantly increased. On the other hand, the Cumulative Value Destruction Day (CVDD) valuation model shows that the structural bottom of Bitcoin's current cycle is approximately $48000. Axel Adler Jr. concluded that similar regions in history often correspond to market surrender stages and bottom formation processes, such as the cycle lows of 2019 and 2023. However, it is necessary to observe whether the price can hold the $60000 region in the future, while the smooth line of the seller's risk ratio continues to rise. Although the price of Bitcoin has rebounded to around $66000, the market is still at the lower end of the valuation range, and we still need to be vigilant about the final confirmation process at the bottom of the cycle.