Bitcoin still faces downside risks, but on-chain data is beginning to show signs of some capital accumulation. MN Capital founder Michael van de Poppe believes that currently, Bitcoin's price and related indicators are at historic lows, making it a good opportunity for accumulation and entry. Although panic selling may continue in the short term, it could also present rare buying opportunities.

On-chain data shows that in the past 60 days, medium and large holder addresses have significantly increased their holdings, with wallets holding 1,000–10,000 BTC adding 53,042 coins, making them the main buyers; meanwhile, ultra-large holders with over 10,000 BTC have reduced their holdings by about 39,840 coins, and small holders have also decreased their positions.
From valuation ranges, Bitcoin's quarterly fair value is roughly between $44,600 and $56,800, with some historical models indicating a potential bottom in the $52,000–$59,000 range.
⚠ Personal opinion only
Not a recommendation or advice
Crypto is high risk, judge for yourself