4 Bitcoin charts suggest BTC price may be forming a market bottom
Bitcoin’s recent decline toward $60,000 may have been a classic buy-the-dip opportunity, according to several technical indicators that suggest the market could be forming a bottom.
Although Bitcoin is still trading more than 40% below its all-time high of $126,000, analysts say the current price range between $60,000 and $72,000 may represent a new support zone before a potential recovery.
Several chart patterns and market signals now point to the possibility that the correction phase is nearing its end.
Double-bottom pattern signals potential reversal
One of the strongest technical signals comes from a double-bottom formation visible on shorter-term price charts.
Bitcoin recently rebounded roughly 21% from its February low of $60,000, reaching a 30-day high near $74,000 before pulling back slightly.
Crypto analyst Jelle noted that Bitcoin appears to be forming what is known as an “Adam and Eve” bottom pattern on the 12-hour chart.
This formation is a variation of the classic double bottom, typically indicating a shift from a downtrend toward a new upward trend.
The pattern was confirmed when Bitcoin broke above the $70,000 neckline, suggesting that selling pressure may be weakening.
However, analysts say bulls must continue defending this level to prevent another short-term drop.
Bitcoin-gold ratio nearing historical lows
Another indicator pointing to a potential market bottom comes from the Bitcoin-to-gold ratio, which compares Bitcoin’s performance to the price of gold.
The ratio has been trending downward for roughly 13 months, reflecting a period where investors favored safer assets such as gold over riskier assets like Bitcoin.
Historically, this ratio has often marked key cycle bottoms. According to Coinbureau CEO Nic Puckrin, previous market cycles showed that it typically takes around 14 months for the ratio to move from peak to bottom.
Similar patterns occurred in 2014, 2018 and 2022, each followed by major Bitcoin rallies ranging from 300% to over 450%.
If the historical pattern repeats, the current drawdown could indicate that the next recovery phase is approaching.
Multi-year trend line being retested
Long-term charts also show Bitcoin approaching a multi-year ascending support trend line.
This trend line has historically marked major bear-market bottoms, including those seen in 2018 and 2022.
Technical analysts note that Bitcoin is now retesting this critical support level again.
If the level holds, it could signal that the market is stabilizing after the recent correction.
Momentum indicators support the bottom thesis
Momentum indicators are also beginning to show signs of stabilization. The relative strength index (RSI), which measures market momentum, has started to recover from oversold levels.
Taken together, these signals suggest that Bitcoin may be entering a consolidation phase before a larger recovery attempt.
While analysts caution that short-term volatility could continue, the combination of chart patterns, historical cycles and technical indicators suggests the $60,000–$72,000 range could represent a new market floor.
Source: Cointelegraph
Bitcoin ETFs attract $462M as BTC briefly surges above $73K
US spot Bitcoin exchange-traded funds (ETFs) recorded a strong day of inflows on Wednesday, pulling in $462 million as Bitcoin briefly surged past the $73,000 level. The inflows mark the third consecutive day of positive flows, pushing the total for the week to around $1.1 billion.
The renewed demand suggests investors may be returning to the market after a difficult period earlier this year, when Bitcoin ETFs experienced a prolonged stretch of outflows.
The majority of Wednesday’s inflows went into BlackRock’s iShares Bitcoin Trust (IBIT), which alone attracted $307 million in fresh capital.
Other major ETFs also saw gains, though at a smaller scale. The Fidelity Wise Origin Bitcoin Fund (FBTC) recorded about $48 million in inflows, while the Grayscale Bitcoin Mini Trust (BTC) added approximately $32 million.
Nearly every US spot Bitcoin ETF registered inflows during the session. The only exception was the CoinShares Bitcoin ETF (BRRR), which reported zero inflows for the day.
Market recovery after weeks of outflows
The latest inflows follow a difficult period for Bitcoin ETFs. Earlier in the year, funds experienced a five-week outflow streak totaling $3.8 billion, reflecting cautious investor sentiment during a market correction.
Despite those earlier losses, year-to-date flows have now recovered to roughly $700 million, suggesting that institutional demand may be stabilizing again.
According to Bloomberg ETF analyst Eric Balchunas, most Bitcoin ETFs have now returned to net positive inflows for the year.
Only a few funds remain in negative territory, including Fidelity’s FBTC, which has recorded around $1.1 billion in outflows, as well as the Grayscale Bitcoin Trust (GBTC) and the ARK 21Shares Bitcoin ETF (ARKB), which have seen approximately $648 million and $162 million in outflows respectively.
Ether ETFs also see renewed demand
The positive sentiment extended beyond Bitcoin products. Spot Ether ETFs attracted about $169 million in inflows, reversing minor outflows of $11 million recorded the previous day.
The renewed demand across both Bitcoin and Ether funds suggests that investors may be gradually returning to crypto markets after a period of uncertainty.
Sentiment still fragile
Despite the recent rebound, broader market sentiment remains cautious. The Crypto Fear & Greed Index has risen by 12 points over the past 24 hours but still sits in the “extreme fear” zone with a score of 20.
Bitcoin has recovered roughly 20% from its February low of $60,000, yet the cryptocurrency remains about 8% lower over the past 30 days.
At the time of writing, Bitcoin was trading around $72,200, slightly below the brief rally that pushed it above $73,000 earlier in the day.
Source: Cointelegraph
Ray Dalio warns about Bitcoin: “There is only one gold”
Billionaire investor Ray Dalio has once again raised doubts about Bitcoin’s role as a long-term store of value, arguing that gold remains the superior safe-haven asset, particularly during periods of geopolitical conflict and economic uncertainty.
Speaking on the All-In Podcast, the Bridgewater Associates founder pushed back against the popular narrative that Bitcoin can function as “digital gold.”
“There is only one gold,” Dalio said, emphasizing that the precious metal has centuries of history as a global store of value.
Gold still dominates central bank reserves
Dalio pointed out that gold continues to play a central role in the global financial system, particularly among central banks. According to him, this institutional support is one of the main reasons gold retains its status as a reliable reserve asset.
“Gold is the most established money,” Dalio said, noting that it is currently the second-largest reserve asset held by central banks worldwide.
By contrast, he does not see central banks embracing Bitcoin in the same way.
Dalio questioned why monetary authorities would choose to hold a highly volatile digital asset instead of a long-established reserve commodity such as gold.
Bitcoin’s correlation with tech stocks
Another concern raised by Dalio is Bitcoin’s market behavior. While many investors view Bitcoin as a hedge against financial instability, Dalio argued that the cryptocurrency still behaves more like a risk asset than a safe haven.
Historically, Bitcoin has shown a relatively high correlation with technology stocks, particularly during periods of market stress.
This means that when investors are forced to sell assets to cover losses elsewhere, Bitcoin can also come under pressure.
“Supply and demand can be affected if somebody gets squeezed in one area and has to sell something else they hold,” Dalio explained.
Concerns about privacy and quantum risks
Dalio also highlighted technical concerns about Bitcoin itself. One issue he mentioned is the lack of privacy within the Bitcoin network, noting that blockchain transactions can be monitored and analyzed.
In addition, he warned that future developments in quantum computing could potentially pose risks to current cryptographic systems used in blockchain networks.
While such threats remain largely theoretical today, they are increasingly part of the broader discussion around the long-term resilience of digital assets.
A changing global financial order
Dalio’s comments come amid broader concerns about rising geopolitical tensions and structural shifts in the global financial system.
In recent communications with investors, he warned that the post-World War II global order led by the United States is beginning to break down, forcing investors to rethink how they protect their wealth.
In that context, Dalio continues to argue that hard assets such as gold remain the most reliable stores of value, particularly during periods of currency debasement and rising government debt.
Interestingly, Dalio has previously suggested that investors may benefit from allocating around 15% of a portfolio to either Bitcoin or gold in order to achieve a better balance between risk and return.
Still, when it comes to long-term safe-haven assets, Dalio remains clear about his preference.
“There is only one gold.”
Source: Cointelegraph