BlockBeats News, August 12th. Renowned trader Doctor Profit posted, stating that a key Bitcoin bottom indicator is signaling that the "bottom is either in or very close." In 2015, 2019, and 2022, the bear market bottoms began when the 3 to 6-month holder realized price crossed below the 1 to 2-year holder realized price. He believes this indicates that newer buyers capitulate into losses and sell, transferring Bitcoin to longer-term holders. Currently, this crossover is appearing for the fourth time, with BTC's price below the average cost basis of these two holder categories.

However, historically, this signal does not lead to an immediate reversal. Bitcoin typically undergoes months of consolidation to complete the bottoming process, so this phase can also be seen as a long-term accumulation range. He believes the market is currently in the bear market bottom formation and long-term accumulation phase. Doctor Profit stated that over the past few weeks, he has been buying BTC in tranches between $54,000 and $64,000 and continues to gradually accumulate with each 5% tranche.