Bitcoin just slipped below its own collective memory.
By Maxime Laurent · 2026-02-01 09:17
Bitcoin just slipped below its own collective memory.
For the first time in 2.5 years, $BTC trades under the average buy price of investors. That’s… not nothing.
During this correction, the True Market Mean dropped below market price — meaning most holders (excluding miners) are now underwater. Psychologically, this is a line. When price falls under what the crowd paid on average, narratives crack, hands shake, and conviction gets tested.
On the technical side, Keith Alan points to a possible double bottom around $74,000, perfectly aligned with the April 2025 support. Same zone, same buyers stepping in. Markets love symmetry when fear is thick.
But zoom out further and it gets spicier. Michaël van de Poppe highlights something most people ignore: the weekly RSI of $BTC against gold is below 30. That signal fired near major bear market lows in 2015, 2018, and 2022. Not every dip — the dips.
Does this mean we bottomed? No idea. Markets don’t send invitations. But when metrics start whispering instead of screaming, I pay attention. Underwater holders, long-term ratios stretched, sentiment heavy like August heat down here in the south.
This isn’t euphoria. This is discomfort territory. And historically, that’s where $BTC starts rebuilding quietly. Rien de sexy… but often very profitable. 🌊
#bitcoin #crypto #markets #technicalanalysis #onchain #sentiment #macro #btc
For the first time in 2.5 years, $BTC trades under the average buy price of investors. That’s… not nothing.
During this correction, the True Market Mean dropped below market price — meaning most holders (excluding miners) are now underwater. Psychologically, this is a line. When price falls under what the crowd paid on average, narratives crack, hands shake, and conviction gets tested.
On the technical side, Keith Alan points to a possible double bottom around $74,000, perfectly aligned with the April 2025 support. Same zone, same buyers stepping in. Markets love symmetry when fear is thick.
But zoom out further and it gets spicier. Michaël van de Poppe highlights something most people ignore: the weekly RSI of $BTC against gold is below 30. That signal fired near major bear market lows in 2015, 2018, and 2022. Not every dip — the dips.
Does this mean we bottomed? No idea. Markets don’t send invitations. But when metrics start whispering instead of screaming, I pay attention. Underwater holders, long-term ratios stretched, sentiment heavy like August heat down here in the south.
This isn’t euphoria. This is discomfort territory. And historically, that’s where $BTC starts rebuilding quietly. Rien de sexy… but often very profitable. 🌊
#bitcoin #crypto #markets #technicalanalysis #onchain #sentiment #macro #btc
Disclaimer: This content is for informational purposes only and not financial advice.