BTC bear market may be nearing end, with final bottom seen at $51,336

BTC may be nearing the end of its bear market, with a trend reversal becoming more likely as the downtrend gradually weakens, according to a CryptoQuant analysis. CryptoQuant said declines following Bitcoin’s all-time high have been getting shorter while rebounds have been growing larger. The drop in early July fell only slightly below the low seen in early February, and BTC has since held relatively steady around $60,000, suggesting selling pressure is easing. It added that technical indicators were also constructive, with the MACD and RSI showing a bullish cross, bullish divergence, and oversold signals consistent with bottom formation. Still, CryptoQuant said a final wave of selling remains possible and projected the ultimate bottom could form around $51,336. It added that the area near $50,000 overlaps with a major historical support zone, holders’ average cost basis, and the 200-week moving average, creating conditions similar to past bear-market bottoms.