BlockBeats News, August 4th: South Korean crypto analyst Crypto Dan stated that Bitcoin is currently in a very cheap range. From a cyclical perspective, Bitcoin can be seen as having reached a level similar to past historical bottoms. Although it cannot be confirmed whether the bottom has been reached, indicators show that market participants' interest in the cryptocurrency market is as low as it was during previous bottoms. Considering the next bull cycle expected to start around 2027, the current price range is undoubtedly cheap.

The chart shared by Crypto Dan shows that the "Bitcoin Realized Cap-UTXO Ratio" is currently at a historical low of about 5%, similar to the low points during the bottoms of the past few cycles. This indicates that current short-term holder activity is very low, market interest is subdued, resembling historical bottom areas.