PlanB: Bitcoin Has Already Bottomed, Here’s Why

BitcoinWorld PlanB: Bitcoin Has Already Bottomed, Here’s Why Prominent Bitcoin analyst PlanB, known for his stock-to-flow pricing model, has stated that Bitcoin has already passed its cyclical bottom.

In a recent post on X (formerly Twitter), PlanB outlined several on-chain and technical indicators that he believes confirm the market has turned a corner. His comments come as Bitcoin trades around $65,000, having recovered significantly from its 2022 lows.

Key Indicators Point to a Bottom PlanB highlighted three main metrics supporting his view. First, Bitcoin is trading above its 200-week moving average, currently at $65,000, which has historically marked major bear market bottoms.

Second, the five-month short-term holder realized price—the average cost basis of coins moved in the last five months—stands at $72,000, and Bitcoin is above that level, indicating that recent buyers are in profit.