Bitcoin is trading in the $65,000-$66,000 range this week, and a handful of analysts are making the case that the current price could be a rare buying opportunity. Crypto Rover, Jelle, and Michaël van de Poppe each pointed to different signals — from logarithmic regression to on-chain metrics — suggesting the bottom might be in or near.
The logarithmic regression case
Crypto Rover claims that buying Bitcoin at $65,000-$66,000 is comparable to buying it at historical low points such as $2, $10, $200, $3,500, and $16,000. The comparison is based on a logarithmic regression curve that tracks Bitcoin's long-term price cycles. Previous instances where Bitcoin touched the lower regression curve included $2 (over a decade ago), $10, $200, $3,500, and $16,000 during the 2022 bear cycle. If the pattern holds, the current range could mark another generational entry point.
Resistance at $70,000
Analyst Jelle stated that Bitcoin is turning previous local consolidation into support and predicted a move to fill a void at $70,000. But he warned that resistance could be too strong given minimal bullish sentiment. That caution tempers the optimism — even if the regression curve says it's a buy, the market's mood isn't exactly frothy. Traders will be watching whether Bitcoin can push through that $70,000 level or stall again.
Oversold signal from Puell Multiple
Michaël van de Poppe noted that Bitcoin has entered oversold territory on the Puell Multiple, a metric that compares daily coin issuance to the 365-day moving average. Historically, such occasions have led to bottom formation shortly after — examples include 2015, 2018, 2020, and 2022. The signal doesn't guarantee an immediate rally, but it adds another layer to the case that the selloff may be exhausted.
For now, Bitcoin sits in a narrow band, and the next move will depend on whether buyers step in at these levels or if resistance at $70,000 proves too heavy. The coming days should offer a clearer picture.
