- On-chain models place Bitcoin’s bottom between $46K and $54K as price holds above metrics.
- Polymarket data shows higher odds of Bitcoin dropping below $40K than reaching $100K.
- ETF demand supports price while the four-year cycle suggests a possible recovery by late 2026.
Bitcoin’s price trend is showing diverging signals as on-chain valuation models point to a possible downside range, even while the asset continues to hold above key levels. Recent data places Bitcoin at $67,496.86, up by 1.09% over 24 hours, with a market capitalization of approximately $1.35 trillion and trading volume rising 35.67% to $27.3 billion.
On-chain analyst Willy Woo stated that traditional valuation models show a Bitcoin bottom between $46,000 and $54,000. These models incorporate metrics such as Active Price and Cointime Price, which track overall transaction activity and long-term holder cost basis, respectively.
The Active Price is positioned near $63,913, while the Cointime Price is estimated around $56,850. Bitcoin’s market price continues to trade above both levels, indicating a gap between current valuation and historical support ranges.
Woo also referenced the Realized Price, represented by an orange line, which reflects the capital stored in Bitcoin. According to his observation, this metric has been declining since November, signaling ongoing distribution. In addition, the CVDD Floor model is currently near $45,500 and continues to trend upward, contributing to the broader $46,000–$54,000 range identified by these models.
Market Structure and Cycle Debate Continue
Woo cautioned that these models rely on past market behavior, noting that Bitcoin has only experienced four prior bear markets, all within a broader secular bull market in risk assets. He stated that a breakdown of that macro structure could lead to deeper downside scenarios beyond historical patterns.
At the same time, data from Polymarket shows that market participants currently assign a higher probability to Bitcoin falling below $40,000 this year than reaching $100,000.
Institutional Flows and Cycle Narrative Remain Factors
Separately, analyst Anthony Scaramucci described the current Bitcoin price movement as consistent with a regular correction within the four-year cycle. He noted that selling activity from long-term holders, miners, and early investors near the $100,000 level aligns with historical cycle behavior.
Scaramucci added that institutional demand for spot Bitcoin ETFs from firms such as BlackRock and Fidelity Investments has helped moderate downside pressure.
He stated that Bitcoin may continue to trade in a range before a possible recovery phase begins in the fourth quarter of 2026, in line with post-halving cycle dynamics.
Related: Crypto Market Drops as Bitcoin Falls Below $66K Amid Rising Yields and Geopolitical Risk
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Source: https://coinedition.com/bitcoin-price-diverges-as-on-chain-models-flag-46k-54k-zone/
