Analysts Predict Bitcoin May Decline to $55,000 Amidst Market Pressure

Bitcoin's price is under pressure, having broken below the "True Market Mean" and is now trending towards the "Realized Price" of around $55,000, according to a report by on-chain analytics provider Glassnode. The company continues to hold a bearish outlook as demand across spot and derivative markets remains weak. Historically, the lower boundary during deeper bear market phases aligns with the Realized Price, which currently stands near $54,900. Glassnode also noted that the market is transitioning from reactive liquidation to controlled consolidation, with sellers in control as demonstrated by the negative Spot Cumulative Volume Delta. For a sustainable recovery, improved liquidity conditions, sustained accumulation, and renewed spot demand will be necessary.