Bitcoin Is in Deep Value Zone, Yet $53K Drop Cannot Be Ruled Out
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Bitcoin shows early recovery in crypto markets, rising from $57,800 to nearly $63,000 over the past week, but it remains below the True Market Mean of $76,600 and the Short-Term Holder Cost Basis of $72,200. On-chain Glassnode data places BTC in a deep value zone and suggests the market may be in the later stages of a bear market without confirming signals of a broader turnaround.
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Bitcoin’s market appears to be in the later stages of a bear market, but the signals confirming a broader turnaround have not yet emerged. On-chain data shared by Glassnode shows the asset has recovered from $57,800 to nearly $63,000 over the past week, but it remains below both the True Market Mean of $76,600 and the Short-Term Holder Cost Basis of $72,200.
This leaves the asset in a “deep value” zone.
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