Crypto analyst Sherlock pointed to a notable price behavior in Bitcoin and major altcoins over the past 13 weeks. According to the analyst, after reaching a certain price level at 17:00 UTC (20:00 TSİ) every Wednesday, Bitcoin pulls back by at least 1 percent in the following 24 hours.
According to data shared by Sherlock, this trend has repeated itself throughout the past 13 weeks. The analyst noted that the smallest drop seen during this period was 1.11%, the average drop was 2.58%, and the median drop was 2.40%. The largest pullback was reported to be 3.91%.
Sherlock noted that a similar trend occurred this week, stating that the Bitcoin price was at $81,452 at 5:00 PM UTC on Wednesday, before falling to $79,500 within the next 24 hours. This represents a drop of approximately 2.4 percent.
The analyst suggested that the same behavior was observed for Ethereum and Solana, with both assets repeating the same pattern for 13 weeks.
Sherlock also argued that this situation is statistically remarkable. According to the analyst, the calculated “P-Value” is 0.000244. This means that the probability of this event occurring completely randomly is approximately 1 in 4,096.
*This is not investment advice.
