Bitcoin’s (BTC) all-time low daily and bi-weekly relative strength index (RSI) readings coincide with continued accumulation across several investor cohorts, strengthening what one analyst called the “best case” for buying BTC.

Onchain data shows that wallets holding 1,000-10,000 BTC have added over 53,000 BTC over the last 60 days, while smaller retail investors have also increased their holdings.

BTC accumulation is growing in key cohorts

Founder of MN Capital Michael van de Poppe highlighted Bitcoin’s historically tender momentum readings as a potential long-term opportunity.

“The lowest bitcoin reading on the 2-week RSI and daily RSI ever. This is the best thesis for Bitcoin hoarding and buying,” van de Poppe said, adding that panic-fueled selling could continue while creating uncommon buying opportunities.

Onchain data supports part of this view. Glassnode accumulation trend score can be seen the highest purchasing activity among smaller holders and selected medium-sized investors. BTC wallets containing less than 0.1 BTC recorded a score of 0.78, the highest among the cohorts tracked. This was followed by the 10-100 BTC group with a score of 0.71, signaling steady accumulation in recent weeks.

Bitcoin accumulation trend result. Source: CryptoQuant

Some larger holders were also vigorous buyers. Over the last 60 days, wallets containing 1,000-10,000 BTC added 53,042 BTC, the largest escalate of any cohort. Addresses with 100-1,000 BTC accumulated another 12,233 BTC, while the 10-100 BTC group added 1,283 BTC.

However, a different picture emerged among the largest entities. BTC wallets containing over 10,000 BTC reduced their balance by 39,840 BTC over the same period. Smaller groups holding 1 to 10 BTC also reduced their exposure. The positioning breakdown indicates continued demand from whales below the largest group and from retail investors, accumulating towards weakness.

Bitcoin accumulation vs. distribution (60-day change). Source: CryptoQuant

Related: Bitcoin price is 90 thousand. dollars as BTC’s FTX-era bullish divergence flashes again

Analysts are mapping potential lower zones below $60,000

Titan of Crypto market analyst highlighted a quarterly fair value gap (FVG) of $56,800 to $44,600. FVG is a price imbalance created when Bitcoin moves sharply in one direction over a tiny period of time, leaving a zone of relatively little trading activity.

Quarterly BTC and FVG price analysis by Titan of Crypto. Source: X

The quarterly chart shows that Bitcoin revisited similar imbalance zones created in 2011, 2013, 2017, and 2020 before bottoming out. The last gap, which opened in 2024, remains unfilled, making the $56,800-$44,600 range an vital range if the current correction deepens.

Meanwhile, Glassnode co-founder Rafael pointed to Bitcoin’s cumulative value-of-destruction-to-price ratio (CVDD), a long-term valuation metric that compares the market price to the historical minimum underlying cost resulting from the behavior of those holding the coins. The ratio is currently close to 0.73, and has historically been close to 1.0 near the lows of the major cycles.

Rafael stated that with a CVDD low near $46,000, a similar pattern would result in a potential low in the $52,000-$59,000 range.

Bitcoin’s CVDD ratio. Source: Rafael/X

Related: Spot Bitcoin ETFs lose $1.7 billion amid four-week streak of outflows