BTC nears key support but lacks panic selling, analyst says

An analysis suggests that while Bitcoin's price has dropped near its on-chain Realized Price, often seen as the final support line in a bear market, there are no signs of the mass investor capitulation or panic selling that typically marks a true bottom. The recent market weakness is reportedly the result of a severe slowdown in demand combined with external macroeconomic headwinds, rather than fear-driven selling. According to CryptoPotato, market analyst Shanaka Anselm Perera stated that the current BTC price has approached within 9% of the Realized Price, which stands at around $53,600 and has historically marked the end of bear markets. However, Perera noted that the typical liquidation behavior where so-called "weak hands," or retail investors, are completely shaken out at the end of a downturn has not been observed.