Cryptocurrency analyst Sherlock pointed out notable price movements for Bitcoin and major altcoins over the past 13 weeks. According to the analyst, after Bitcoin reached a certain price level every Wednesday at 17:00 UTC (20:00 TSİ), it fell by at least 1% in the following 24 hours.
According to data shared by Sherlock, this trend has been repeated over the past 13 weeks. Analysts noted that the minimum decline seen during this period was 1.11%, the average decline was 2.58%, and the median decline was 2.40%. The maximum decline rate is reported to be 3.91%.
Sherlock noted that a similar trend occurred this week, with the price of Bitcoin dropping from $81,452 as of 5pm UTC on Wednesday to $79,500 within the next 24 hours. This corresponds to a decrease of approximately 2.4%.
Related news Cathie Wood reverses course: “Binance did not cause the October crash!”
Analysts suggested that the same behavior was observed with Ethereum and Solana, with both assets repeating the same pattern for 13 weeks.
Mr. Sherlock also argued that this situation is statistically significant. According to the analyst, the calculated “P-value” is 0.000244. This means that the chance of this event occurring completely randomly is approximately 1 in 4,096.
*This is not investment advice.
