BTC could form bottom near $53K, analyst says

On-chain analyst Julio Moreno suggested in a CryptoQuant contribution that Bitcoin's current Realized Price is $53,600, noting that historically, major bear market bottoms have formed below this level. Moreno stated that while the Realized Price does not guarantee a market bottom, a decline to that price range is possible given that demand conditions, such as spot ETF fund flows, remain weak. He added that the intensity of recent sell-offs is not yet sufficient compared to past bear market bottoms, with realized losses over the last month totaling only 187,000 BTC. "Therefore, while the current moment can be interpreted as an undervalued period, it will take more time to confirm a bottom unless demand stabilizes and ETF fund flows improve," he concluded.