Bitcoin Breaks Below Rainbow Chart Low on June 24, Enters 'Bitcoin Dead' Zone for Second Time

BTC-3.42%
XYO-0.15%
According to BlockBeats, on June 24, Bitcoin broke below the lowest band of the Rainbow Chart valuation model for the second time in history, entering the purple zone labeled "Bitcoin Dead" that tracks long-term price trends using a logarithmic growth curve. Analysts hold mixed views on the signal's significance. XYO co-founder Markus Levin argues this marks a structural shift in the model itself, suggesting the Rainbow Chart may have lost effectiveness rather than confirming Bitcoin's demise. Other experts, including Ethra COO Emad Shahin and GoMining CEO Mark Zalan, view the zone as a sentiment indicator reflecting extreme panic and historical underbidding, typically followed by recovery.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments