These bitcoin metrics suggest February’s $60,000 selloff may have marked the bottom
Recent metrics indicate that Bitcoin may have reached a cycle low following its February selloff to around $60,000. Key indicators such as stabilized realized cap and elevated RHODL readings suggest a potential recovery. Additionally, deeply negative funding rates have historically signaled market exhaustion, hinting that the worst may be over for Bitcoin investors.
- ▪Bitcoin's realized cap has stabilized near $1.08 trillion after significant declines.
- ▪The RHODL Ratio is currently above 5, indicating dominance of long-term holders in the market.
- ▪Perpetual futures funding rates have remained negative for an extended period, reflecting extreme bearish sentiment.
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| Publication time | Wed, 20 May 2026 11:57:00 +0000 |
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MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailThese bitcoin metrics suggest February’s $60,000 selloff may have marked the bottomRealized cap stabilization, historically elevated RHODL readings and deeply negative funding rates all point toward a potential cycle low for bitcoin forming earlier this year.By James Van Straten|Edited by Sheldon Reback May 20, 2026, 11:57 a.m. 2 min readMake preferred on RHODL Ratio (Glassnode)What to know: Multiple onchain and derivatives indicators suggest bitcoin probably established a cycle low during February’s sharp selloff toward $60,000.Realized cap has stabilized near $1.08 trillion after heavy wealth destruction, mirroring accumulation patterns seen during previous bear-market bottoms.Bitcoin perpetual funding rates…
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