• Bitcoin [BTC]’s Coin Days Destroyed (CDD) metric could indicate volatility rather than a sell signal.
• The $15,000 price mark could be the price bottom for the leading coin, Bitcoin, as it might log a regular bullish divergence marked by a period of low trading volume and an oversold Relative Strength Index (RSI).
• CryptoQuant analysts believe that the current SOPR MA30 value of 0.54 could act as a bear market bottom indicator.

Bitcoin [BTC] continues to be the leading crypto asset in the world and is widely considered as the industry’s benchmark. As such, traders and investors in the crypto space always keep an eye on its movements. Recently, CryptoQuant analysts have pointed out that the $15,000 price mark could be a good price bottom for BTC.

The Coin Days Destroyed (CDD) metric is often used by traders to assess the movements of long-held coins on the BTC network. This metric is also interpreted as a sell signal. However, Nakju, a CryptoQuant analyst, believes that the CDD metric could also represent volatility rather than just be used to assess the proper time to sell. Nakju believes that a further decline to the $15,000 price range could mark the price bottom for the leading coin. He believes that the price range could be a good example of when BTC would typically log a regular bullish divergence marked by a period of low trading volume and an oversold Relative Strength Index (RSI). The analyst believes that trend reversals „of any asset occurs when the volume of transactions is small“.

On the other hand, another CryptoQuant analyst, Onchain Edge, has found that the current value of the king coin’s SOPR MA30 was 0.54. This was while assessing BTC’s Spent Output Profit Ratio (SOPR) on a 30-day moving average. According to Onchain Edge, the current SOPR level acted as a bear market bottom indicator in previous bear cycles in 2012, 2014, and 2018. Furthermore, Onchain Edge recommended using dollar cost averaging (DCA) and setting trailing stop losses to potentially maximize gains.

In conclusion, the $15,000 price mark could be a good price bottom for BTC. CryptoQuant analysts believe that the current SOPR MA30 value of 0.54 could act as a bear market bottom indicator. Furthermore, considering the CDD metric indicates volatility rather than a sell signal, the price range could be a good example of when BTC would typically log a regular bullish divergence marked by a period of low trading volume and an oversold Relative Strength Index (RSI). Therefore, investors should use this opportunity to potentially maximize gains.