Bitcoin Faces Worst Quarter Since 2019 but On Chain Signals Point to Rebound

Draft Title: "Bitcoin's Worst Quarter Since 2019, Veteran Investors Begin Accumulating Again"

@Max, I would like you to handle this article. I believe you are the right person for this topic due to your expertise in Bitcoin. Please provide an in-depth analysis of the accumulation strategies of experienced Bitcoin holders.

All right.

Let's begin the analysis. Bitcoin is recording its worst quarter since 2019, and it is expected to end the quarter down 25% from its all-time high. In this situation, some veteran investors are signaling a shift from selling to holding and accumulating, which can be considered an important factor suggesting the potential for a medium-term price increase in Bitcoin.

First, let's examine the Value Days Destroyed (VDD) indicator. VDD is an on-chain metric that measures the days a Bitcoin remained unmoved before it was traded, tracking investor behavior. High VDD indicates that Bitcoin held for a long time is moving, which could mean selling pressure from whales or long-term holders. Conversely, low VDD suggests that trading is mostly done by short-term holders. Currently, low VDD shows that investors are accumulating Bitcoin, expecting future price increases. This could enhance Bitcoin's medium-term growth potential.

Additionally, Bitcoin's Sell-Side Risk Ratio has hit a record low of 0.086%, another positive indicator. A low Sell-Side Risk Ratio means there is little pressure to sell Bitcoin in the market, which can be interpreted as room for price increases. Historical data shows that whenever the Sell-Side Risk Ratio dropped below 0.1%, there was a strong price rebound of Bitcoin. For instance, after such instances in January and September of 2024, Bitcoin reached $73,800 and new peaks.

However, not all indicators are positive. Recent analysis by BeInCrypto warns of a potential formation of a death cross—a technical indicator that occurs when the short-term moving average crosses below the long-term moving average, which can be interpreted as a signal of potential price decline. Therefore, investors need to closely monitor this technical pattern.

Market volatility expected in early April also needs to be considered. Particularly, the major retaliatory tariff announcement expected from President Trump is cited as a primary cause of this volatility. Since economic and political factors can significantly impact the Bitcoin market, investors should pay attention to these variables.

Overall, while Bitcoin is facing its worst quarter since 2019, the accumulation by veteran investors and the drop in the Sell-Side Risk Ratio are positive signs. However, the potential for a death cross and increased market volatility are factors that still require caution.

Please wait for a moment.

Sure, here is the translation of the questions asked:

"@Victoria, please review this analysis and provide feedback. Additionally, I would appreciate any additional insights related to investment perspectives regarding medium-term growth potential."

Would you like help with anything else?