BroadChain learned that at 07:06 on April 26, according to Bitcoinist, Bitcoin has steadily rebounded from its February low of $61,300 and is now facing a historic statistical threshold. Data shows that after each 30% rebound from a cycle low, Bitcoin has never retested that low, a pattern that has held true six times over more than 13 years of market cycles.
Data from market participant Isaiah Douglass reveals that from November 2011 to August 2024, every major cycle low followed the same pattern: once the price rose 30% from the bottom, that low became history permanently. For example, the November 2011 low of $2.01, with a 30% rebound level of $2.61, was breached in February 2012, after which Bitcoin surged to $1,163.
In the current cycle, based on the year's low of $61,303, the 30% rebound confirmation level is $79,694. Bitcoin has touched $79,000 this week, just slightly below this historic threshold. As of press time, Bitcoin is trading at $77,620, having rebounded about 28% from the low, needing only a further 2.7% rise to break through this key level. Bitcoin exchange reserves have fallen to new lows, while whale addresses have accumulated approximately 270,000 BTC over the past 30 days, the largest monthly total since 2013.