According to CryptoQuant, the lows of bear markets take time to form, and it stated that US$55,000 is the true bottom or floor of #Bitcoin . The firm insists that this level represents the realized price, which has historically been an important support zone in previous bear markets.

The realized price is a metric that tracks the average price at which investors have bought a specific cryptocurrency that has been touched during the last two lows of the bear market.

CryptoQuant also points out that its bullish/bearish cycle indicator is solely in the bearish phase, and has not yet entered the extreme bearish segment that typically marks the beginning of a low phase.