Analysis: Bitcoin Enters Bottoming Range, Bull Market Reversal Requires Return of Spot Demand

On May 2, CryptoQuant analyst Axel Adler Jr. stated that Bitcoin has currently entered the lower range of the Adjusted Realized Price Bands model, which may indicate the beginning of a market bottom. However, this process is not expected to be completed in the short term. The analyst estimates that a typical bottoming process takes about six months. A true bull market reversal cannot be driven by sentiment or short-term rebounds; it will only occur when the market begins to see forward-looking value and when real spot demand returns in the long term.