Bitcoin price risks a drop toward $50K despite on-chain data showing nearly 20% of BTC supply is concentrated in the $60K–$70K range.

CryptoQuant analyst Axel Adler Jr. says Bitcoin's CVDD model points to a structural cycle bottom near $48,000, with an accumulation zone around $60,000.

Bitcoin price risks a drop toward $50K despite on-chain data showing nearly 20% of BTC supply is concentrated in the $60K–$70K range.

BTC slid to around $64,100 after Kevin Warsh's hawkish debut, but analysts argue a $60,000 floor and catalysts could spark a rebound.