Woominkyu: Bitcoin BCMI Index Testing Historical Key Range

According to CryptoQuant data, analyst Woominkyu stated that the Bitcoin Composite Market Index (BCMI) has fallen to the range of 0.2 to 0.3, which historically corresponds to the deeply undervalued level of BTC in this region. Although the current correction will reset the value and market sentiment to levels not seen since early 2023, the 90 day moving average is still declining and needs to wait for its slope to level off to confirm the signal of selling pressure depletion. He believes that the market is entering a 'value accumulation zone', but price stabilization is needed to confirm the bottom signal.