< Characteristics of Bitcoin at the Bottom (Part 01) >

Characteristics-of-Bitcoin-at-the-Bottom-Part-01

Historically, Bitcoin’s true bottoms have always been confirmed by supply-demand dynamics.

Bitcoin: Spot Average Order Size
After the approval of the BTC ETF, retail orders showed strong accumulation behavior between March and May 2025 — roughly a two-month period.

Bitcoin: Coinbase Premium Gap
A key characteristic observed at previous bottoms was a rapid shift from negative to positive in the Premium Gap, particularly around areas forming a double-bottom structure.
When the Premium Gap flipped quickly from negative to positive during bottom formation, it often indicated that the market was nearing a bottom.
This suggests strong buying pressure on Coinbase at those lower levels.