Bitcoin is showing signs of a potential market bottom, with a macro model linked to US and China 10-year bond yields suggesting a rally toward $100,000 is possible in the coming months. Analysts point to a historically precise bullish crossover on a Stochastic RSI indicator applied to these bond yields, a signal that has preceded major Bitcoin market bottoms and significant price surges in the past.
Further supporting this outlook, on-chain data reveals that Bitcoin "whales" - wallets holding between 1,000 and 10,000 BTC - have resumed accumulation during recent price declines. This behavior mirrors patterns observed near previous market lows, such as early 2023, when similar accumulation phases preceded substantial rallies.
Technically, Bitcoin is holding its 100-week simple moving average, a level that has historically marked price bottoms. The cryptocurrency's relative strength index (RSI) has also entered oversold territory, indicating a potential for recovery. A rebound from current support levels could target $100,000, where key technical indicators converge.