Bitcoin (BTC) may be approaching a market bottom, according to a macro model tied to the US and China's benchmark 10-year bond yields. The model suggests that Bitcoin whales are accumulating, with significant accumulation seen near the 2023 market low. While BTC is oversold, it holds key long-term support while "oversold," increasing the chance of a recovery. The Stochastic RSI oscillator indicates that bullish crossovers from oversold levels have historically occurred near major BTC market bottoms. The weekly chart is also showing early signs of a potential rebound. However, some analysts have warned about a potential bull trap if Bitcoin fails to rise above the $78,000 resistance level.