BUSINESSTHE BLOCK
CryptoQuant sees bitcoin bottom near $53,600 while demand remains ‘deeply unfavorable’
CryptoQuant identifies Bitcoin's potential bottom near $53,600, citing its current realized price and historical significance as a bear market bottom. The analysis notes that demand remains 'deeply unfavorable' for the cryptocurrency.
Related Signal
Adjacent reporting
- Live markets: bitcoin's plunge continues, putting February $60,000 low back in play
- These bitcoin metrics suggest February’s $60,000 selloff may have marked the bottom
- More than 50% of bitcoin supply is underwater; prior bottoms followed within weeks, often after a final leg lower: K33
- Standard Chartered's three 'Ifs' that stand between bitcoin and a market low
- Every bitcoin bear market bottom since 2015 was called by a simple indicator. It still hasn't flashed