Bitcoin Rebounds 19% After Hitting $60,000 as Data Had Foreseen
Bitcoin’s sharp 19% rebound immediately after touching $60,000 is being attributed not merely to dip-buying sentiment, but to simultaneous bottom signals from both a “peak fear” phase and on-chain indicators.
According to investment outlet FXStreet on February 11 (local time), Bitcoin (BTC) fell to an intraday low of $60,001 earlier this month on a Thursday before surging about 19% within 24 hours. While the move appeared to be a sudden rebound on the surface, data based on Santiment metrics and on-chain indicators had already suggested that selling pressure was nearing exhaustion.
A key clue was identified in the “language of fear” seen in social data. Analysts noted that rather than a rise in mentions of “buy the dip,” a higher social dominance of the word “crash” relative to “dip” serves as a more meaningful signal. When the share of “crash” in overall crypto-related discussions expands, it indicates that retail investors have moved beyond simple concern into a phase of fear and capitulation. Historically, such shifts in language have coincided with actual price bottoms.
The 30-day MVRV (Market Value to Realized Value) ratio, an on-chain metric, also supported bottoming signals. The 30-day MVRV compares the current price with the average purchase price of wallets active over the past month. When it enters the “Strongly Undervalued Zone,” it suggests that recent buyers are experiencing deep unrealized losses. This is typically interpreted as a zone of accumulated selling fatigue, where the likelihood of a price bottom forming increases. Not only Bitcoin but also major assets such as Ethereum, Cardano, XRP (Ripple), and Chainlink have shown similar patterns, moving through extreme zones depending on market cycles.
Moreover, periods when terms such as “selling,” “bearish,” and “going to zero” dominate social trends have more often aligned not with the start of new sell-offs, but with the final stages of capitulation selling. Extreme pessimism among retail investors has tended to mark the end of market declines rather than the beginning. Data-driven analysis, observers note, offers a clearer view of selling exhaustion than instinctive fear or alarming headlines.
Ultimately, the 19% rebound is interpreted not as a coincidence, but as the result of overlapping pressure factors—shifts in social dominance, deepening negative 30-day MVRV levels, and widespread capitulation sentiment. It serves as another reminder that when the market appears to be bleeding the most, an approach grounded in objective indicators can provide greater reliability.
Disclaimer: This article is for investment reference only and we are not responsible for any investment losses incurred based on it. The content should be interpreted for informational purposes only.
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