Despite losing over 20% over the past month amid weak ETF demand and uncertainty around Strategy Inc.
(NASDAQ:MSTR), Bitcoin (CRYPTO: BTC) is holding $60,000 and could be a promising long-term investment, analysts argue.
BTC Flashing Signs Of Bear Market Bottom In a podcast on June 22, crypto analyst InvestAnswers urged investors not to panic, arguing that Bitcoin is showing several signs of a late-stage bear market bottom.
He noted that Bitcoin remains down around 12% in June, even though the asset has rebounded roughly $3,000 since Thursday without meaningful support from spot Bitcoin ETFs.
"Long-term holder supply has hit a spectacular new all-time high," he said, adding that 16.62 million Bitcoin are now held by long-term investors.
