Bitcoin · The Block
CryptoQuant sees bitcoin bottom near $53,600 while demand remains ‘deeply unfavorable’
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◎ Multiple-sources
Bitcoin may find a bottom around $53,600, while demand conditions remain weak and a durable recovery is not yet in place, according to onchain analytics firm CryptoQuant.
Key facts
- Bitcoin fell to a fresh bear market low of around $59,000 last week, leaving it 9% above its current realized price of $53,600, but it has since recovered and is currently trading at around $62,150
- Bitcoin holders realized losses totaling 187,000 bitcoin over the past 30 days, compared with 400,000 bitcoin when bitcoin first fell below $60,000 in this bear market in February 2026 and 1.2
- Thirty-day ETF demand growth has fallen to negative 74,000 bitcoin, the weakest reading since U.S. spot bitcoin ETFs launched in January 2024
- The $53,600 level is bitcoin's current realized price, or the aggregate onchain cost basis of all market participants, CryptoQuant head of research Julio Moreno said in a report on Wednesday
Summary
The $53,600 level is bitcoin's current realized price, or the aggregate onchain cost basis of all market participants, CryptoQuant head of research Julio Moreno said in a report on Wednesday. "Historically, it's a level that would confirm a bottom (the realized price). The realized price was briefly breached during the FTX-driven selloff in November 2022 before bitcoin recovered, making it one of the market's key valuation levels, Moreno noted. Bitcoin fell to a fresh bear market low of around $59,000 last week, leaving it 9% above its current realized price of $53,600, but it has since recovered and is currently trading at around $62,150, 's bitcoin price page.