Bitcoin at a Turning Point â Bottom In or One More Drop? đ€
Bitcoin is flashing cycle signals, but not the kind that usually mark a strong bottom, according to on-chain data from CryptoQuant.
What the data says đ
Long-term holders are near breakeven, not full capitulation
MVRV & NUPL still above historic bottom zones
True bottoms usually come with 30â40% LTH losses â not there yet
Bearish voices đ»
Analysts at Goldman Sachs and Standard Chartered see BTC potentially sliding to $50Kâ$58K
Bullish counter đ
Fear & Greed hit 11/100 (extreme panic)
Massive whale accumulation near $60Kâ$62K
A sharp 19% bounce suggests buyers are defending this zone
Bottom line:
BTC may be forming a floor, but macro data (jobs, inflation) could decide whether we see one last dip or a true reversal.
đ Your take?
Is $60K the bottom, or do we revisit $55K?