Svmuu News: CryptoQuant analyst Axel Adler Jr. posted that Bitcoin may have entered a new accumulation zone, but the potential structural bottom for this cycle remains at around $48,000.Currently, Bitcoin the adjusted seller risk ratio entered the red zone for the first time when the price fell below $60,000, indicating that the supply at a loss has begun to exceed the supply at a profit, and unrealized pressure on holders has risen significantly. On the other hand, the Cumulative Value Destroyed Day (CVDD) valuation model shows that the structural bottom of the current Bitcoincycle is approximately $48,000. Axel Adler Jr. concluded that historically, similar price levels have often corresponded to market capitulation phases and bottom-forming processes—such as the cycle lows in 2019 and 2023—though it remains to be seen whether prices can hold above the $60,000 level while the smoothed line of the Seller Risk Ratio continues to rebound.Although the price of Bitcoin has rebounded to approximately $66,000, the market remains in the lower end of its valuation range, and caution is still warranted regarding the final confirmation of the cyclical bottom.