Bitcoin bottom range $46K-$54K indicated by CVDD metric, says Glassnode co-founder
Glassnode co-founder Raphael Schulze-Kraft says the CVDD metric, historically the most accurate indicator, points to a Bitcoin cycle bottom between $46,000 and $54,000. He notes that drawdown depth has shrunk each cycle, with the current 50% decline from the October 2025 high suggesting the floor may be closer to the upper end.
The CVDD indicator, which Glassnode co-founder Raphael Schulze-Kraft calls the most historically accurate metric for identifying Bitcoin cycle bottoms, currently places the probable floor between $46,000 and $54,000.
However, Schulze-Kraft warns that alternative metrics like Balanced Price and Delta Price allow for a steeper decline, potentially into a $35,000–$40,000 range. He highlights that each cycle has seen shallower drawdowns: previous cycle lows were about 85%, 84%, and 77% below the all-time high, whereas Bitcoin now sits roughly 50% below its October 2025 peak.
"This maturity does not rule out a deeper capitulation, but it suggests the bottom is more likely near the upper end of the range," Schulze-Kraft concluded.
Source: ForkLog