Glassnode Co-founder Rafael Schultze-Kraft Pinpoints Bitcoin Bottom Zone Amidst Market Turmoil
Rafael Schultze-Kraft, co-founder of Glassnode, suggests that Bitcoin's potential bottom zone lies between $46,000 and $54,000, based on CVDD data, offering a technical perspective amidst the current market volatility. This analysis provides a potential support range for BTC, which has recently seen significant declines, and could influence long-term accumulation strategies.
Glassnode co-founder Rafael Schultze-Kraft identifies $46,000-$54,000 as a potential Bitcoin bottom.
This analysis is based on the Cumulative Value Days Destroyed (CVDD) on-chain metric.
The current BTC price is $61,595, above the identified bottom zone.
CVDD often signals macro bottoms, providing a technical perspective for long-term investors.
Story
As Bitcoin (BTC) navigates a period of significant price correction, with a 16.72% decline over the past week, insights from on-chain analytics experts become particularly relevant. Rafael Schultze-Kraft, co-founder of Glassnode, has highlighted the $46,000 to $54,000 range as a potential bottom zone for Bitcoin, referencing the Cumulative Value Days Destroyed (CVDD) metric. CVDD is an on-chain indicator that tracks the cumulative sum of "coin days destroyed" multiplied by the price at which they were destroyed, often signaling macro bottoms when it reaches certain levels. This technical perspective offers a potential roadmap for investors looking for accumulation opportunities during market downturns. While BTC is currently trading at $61,595, above this identified zone, the analysis suggests that further downside could lead to strong support in that region. Such data-driven insights can help you contextualize current price action and manage your risk exposure, especially when considering the "Extreme Fear" sentiment currently dominating the market. Understanding these potential support levels can inform your long-term strategy, helping you to differentiate between short-term noise and significant structural shifts.
Issue context
The crypto market is attempting to find its footing this morning after a turbulent week. Bitcoin and Ethereum are showing modest 24-hour gains, but overall sentiment remains entrenched in "Extreme Fear." Simultaneously, negative ETF flows and funding rates suggest continued caution among market participants, while key on-chain data and regulatory developments could influence the future direction.
Current 24-hour gains might be a short-term relief rally in a still fearful market. Pay attention to persistent ETF outflows and negative funding rates, which suggest underlying bearish positioning. Your risk management should account for this divergence between short-term price action and longer-term sentiment.
Market pulse
BTC
$61.6K
+2.38% 24h / -16.72% 7d
Fear & Greed
12
Extreme Fear
BTC Spot ETFs
-$326M
Net flow · 2026-06-07
BTC Funding
-0.0004%
20 perp markets · OI $42.8B
More from this issue
This story is part of the Biturai Market Brief and is for informational purposes only. No investment advice.