Bitcoin panic selling was taken by whom? The weekly RSI hit a new historical low, selling at this position is really a big loss

Bitcoin is still hovering around 62,000, many people are scared and have cleared their positions, but on-chain data tells a completely opposite story.

In the past 60 days, addresses holding between 1,000 and 10,000 BTC quietly increased by 53,000 BTC, making them the most aggressive buyers; addresses with 100 to 1,000 BTC also added 12,000 BTC. Conversely, large holders with over ten thousand BTC reduced nearly 40,000 BTC, and small retail investors (1 to 10 BTC) are also selling.

This scene is so familiar——bloodied chips are flowing from panicked hands to patient hands.

The technical picture is even more extreme. The daily and bi-weekly RSI of Bitcoin directly hit historic lows, and Michael van de Poppe, founder of MN Capital, said this is “the best time to accumulate and buy.” Glassnode co-founder also mentioned that, according to the CVDD indicator, the potential bottom of this wave is roughly in the range of $52,000 to $59,000.

My personal opinion: no one can precisely catch the needle, but the spot sold in this range will likely be bought back at a higher price later. Panic selling is creating a rare golden pit in this cycle.

Those trading contracts are free to do so, but if you want to stay safe until the bull market, take this opportunity to buy some bloodied spot assets in batches, don’t wait until prices rise and then regret. If the market truly builds a bottom here, the next phase will likely be a new cycle start.

What should you do now? Keep an eye on the $52,000-$59,000 range, buy in batches, hold, then turn off the software. In a few months, when you look back, you’ll thank yourself for not panicking now.

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