Bitcoin's bear market might be nearing an end, analysts said, but individuals and institutions aren't lining up to buy the top crypto asset.
In brief
Bitcoin moved closer to its realized price, or the average cost basis, for market participants last week as it fell below $60,000.
The marker has typically been a key structural point for market bottoms, CryptoQuant said.
However, demand is fading and not ready to support price growth, highlighted by significant outflows from Bitcoin ETFs.
CryptoQuant sees bitcoin bottom near $53,600 while demand remains 'deeply unfavorable'
Bitcoin price drop alert: Why is CryptoQuant predicting BTC USD to bottom near $53,600 as demand is collapsing? Here's what crypto traders need to know
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Bitcoin (BTC USD) price drops toward the $60,000 level as two major buyers pull back - what's happening with the cryptocurrency?
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CryptoQuant sees bitcoin bottom near $53,600, its current realized price and a level that has historically marked bear market…
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