Bitcoin’s recent decline has led analysts at CryptoQuant to suggest that the cryptocurrency has not yet hit its “ultimate bear market bottom,” which they identify as $55,000. This is based on the realized price, a historical support level during previous bear markets. Currently trading around $69,724, Bitcoin has seen a 27% decrease in the last month, far from its October peak. Expert reports, such as those from Standard Chartered and other blockchain analytics firms, echo a cautious sentiment, underscoring ongoing bearish conditions and possible further downturns before any significant recovery.
CryptoQuant predicts Bitcoin bottom at $55K amid bear market
