CryptoQuant: The bottom of the bear market is approximately $55,000, and the current price is still more than 25% above that level.

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Deep Tide TechFlow News, February 14 — According to The Block, CryptoQuant’s analysis indicates that the “final” bear market bottom for Bitcoin is around $55,000, and the current price remains more than 25% above that level. The organization states that bear market bottoms typically take several months to form rather than a single crash event, and key indicators such as the MVRV ratio and NUPL have not yet reached historical bottom zones. Although Bitcoin holders experienced a $5.4 billion daily loss on February 5 — the largest since March 2023 — the market has not entered an “extreme bear phase.” Meanwhile, Standard Chartered Bank predicts that Bitcoin may first drop to $50,000 before rebounding before the end of the year.

BTC-0,36%
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