Is The Bitcoin Price Bottom In? Latest On-Chain Data Suggests So

As the Bitcoin market continues to experience a flurry of sales, which started in mid-October, recent on-chain data paints a somewhat optimistic picture of the cryptocurrency’s future. The question is — is the Bitcoin bottom in?

Is A BTC Price Reversal Imminent?

In a recent Quicktake post on the CryptoQuant platform, pseudonymous crypto pundit Sunny Mom shared that a bottom formation for the Bitcoin price may be around the corner. Sunny Mom’s post was based on four different on-chain metrics, all looking into the behavior of Bitcoin’s market participants.

The first of these is the Futures Taker CVD (Cumulative Volume Delta, 90-day) metric, which helps track the net difference between aggressive buy and sell volumes (referred to as taker orders) in the Bitcoin futures market over the last 90 days.

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According to the online pundit, the more dominant sell zones (in red) are turning into neutral zones. This means the leveraged short positions (typically held by the most fearful and aggressive of Bitcoin’s market participants) are slowly taking their exits, thus pointing to the weakening of these speculative hands.

Next, the on-chain analyst referenced data from the Spot Taker CVD (Cumulative Volume Delta, 90-day) metric. Although the number of speculative sellers is declining, the spot CVD still appears to be in the red. Typically, a ‘red’ reading from this metric suggests that Bitcoin’s holders are still selling their coins.

Another interesting event is that the Bitcoin: Stablecoin Supply Ratio (SSR) has fallen to a hallmark low. For context, this metric measures the ratio between Bitcoin’s supply and the supply of stablecoins (like USDT and USDC).

Source: CryptoQuant

A high SSR indicates that there are fewer stablecoins in comparison to Bitcoin. As an extension, it points out that there is lower buying power to purchase Bitcoin in order to send its price to the upside. On the other hand, a low SSR indicates a relative abundance of stablecoins compared to the premier cryptocurrency, suggesting the presence of more potential buying power in the Bitcoin market.

Upon examination of past price action, it is apparent that periods where the SSR read ‘significantly low’ have often preceded significant price rebounds of the flagship cryptocurrency. If history is anything to go by, the analyst inferred that we might be set for another rebound, seeing as the SSR metric currently hovers around a historical low.

Lastly, Sunny Mom explained that data from the Adjusted Spent Output Profit Ratio (aSOPR) also supports the overall conjecture of an imminent price bottom. At the moment, the aSOPR reads around 1.0 — a level whose breach in April 2025 preceded a major price reversal.