CryptoQuant Analyst Says Bitcoin’s SSRR Entered Red Zone at $60,000, Signaling Holder Stress

Bitcoin’s adjusted Seller Risk Ratio (SSRR) first moved into its “red zone” when BTC fell to $60,000, indicating that loss-making supply exceeded profit-making supply and suggesting holders were under heavy pressure, according to a post by CryptoQuant analyst Axel Adler Jr. According to ChainCatcher, Adler said historical instances of the SSRR entering the red zone have often coincided with periods when market bottoms form. He added that the CVDD valuation model places a structural bottom near $48,300, a level Bitcoin has rarely closed below in its history. Bitcoin has since rebounded to $66,000, and the smoothed SSRR has begun turning upward. Adler described $60,000 as a behavioral stress area and $48,000 as a structural risk boundary. He said confirmation of a recovery would be signaled by the smoothed SSRR exiting the red zone and Bitcoin holding above $60,000, while the main risk would be a new red signal at lower levels that leads to a test of support near $48,000. Overall, he said the market is gradually shifting toward an accumulation phase.