Bitcoin's lowest-ever readings on the daily and two-week relative strength index (RSI) are coinciding with steady accumulation across several investor cohorts, strengthening what one analyst called the "best thesis" for buying BTC.
Onchain data shows wallets holding 1,000-10,000 BTC added more than 53,000 BTC over the past 60 days, while smaller retail investors also increased their holdings.
MN Capital founder Michael van de Poppe highlighted Bitcoin's historically weak momentum as a potential long-term opportunity.
"The lowest Bitcoin read on the 2-Week RSI, and Daily RSI EVER. That's the best thesis for accumulating and buying your Bitcoin," van de Poppe said, adding that panic-driven selling could continue while presenting rare buying opportunities.
Onchain data from Glassnode shows the strongest buying activity among smaller holders and select mid-sized investors. Wallets holding less than 0.1 BTC recorded an Accumulation Trend Score of 0.78, the highest among cohorts. The 10-100 BTC group followed with 0.71.
Over the past 60 days, wallets holding 1,000-10,000 BTC added 53,042 BTC, the largest increase among all cohorts. Addresses holding 100-1,000 BTC accumulated another 12,233 BTC, while the 10-100 BTC group added 1,283 BTC.
However, the largest entities-wallets holding more than 10,000 BTC-reduced balances by 39,840 BTC during the same period. Smaller groups holding between 1 and 10 BTC also trimmed exposure.
Market analyst Titan of Crypto highlighted a quarterly fair value gap (FVG) between $56,800 and $44,600-a price imbalance zone formed in 2024 that remains unfilled. Bitcoin revisited similar zones in 2011, 2013, 2017, and 2020 before establishing bottoms.
Glassnode co-founder Rafael pointed to Bitcoin's cumulative value days destroyed-to-price ratio (CVDD), which currently sits near 0.73 and has historically approached 1.0 near major cycle bottoms. With the CVDD floor near $46,000, a potential bottom would fall in the $52,000-$59,000 range.
