Why Bitcoin price could be hitting bottom

Bitcoin price is currently supported by the 1-day to 1-week UTXO Age Bands. On-chain data suggests that crowd FOMO is calming down, signaling a potential BTC price bottom. Over the past 24 hours, $72.60 million worth of BTC has been liquidated, with $49.62 million coming from long positions. Bitcoin price struggles around the $65,000 level on Tuesday.

Realized Price Age Distribution chart Santiment’s Social Volume data for social content ‘altseason’ shows the number of altseason mentions on crypto social media. A spike in this metric during rallies often signals local tops, as traders become greedy and their interests in altcoins rise. As in BTC’s case, Social Volume metric is decreasing after the latest top in March.

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