Woofun AI notes that Bitcoin may have entered a new accumulation zone, with the seller risk ratio entering the red zone after prices fell below $60,000.

This shift indicates that loss-making supply volume now exceeds profit-taking supply, significantly increasing unrealized pressure on holders.

Concurrently, the Cumulative Value Destruction Day (CVDD) valuation model suggests the structural bottom for this cycle remains around $48,000. Historically, similar valuation zones have aligned with market capitulation and bottom formation phases, mirroring cycle lows observed in 2019 and 2023. Although Bitcoin has rebounded to approximately $66,000, the asset remains at the lower end of its valuation range. Market participants should exercise caution regarding the final confirmation of the cycle bottom, as the smooth line of the seller risk ratio continues to rise.