Grayscale says BTC likely bottomed at $58K in June, recommends buying

Grayscale’s head of research, Zach Pandl, said Bitcoin likely already formed its low at $58,000 in late June, according to The Block. Pandl said that despite short-term volatility risks including the Federal Reserve’s recent resumption of rate hikes and difficulty in the U.S. Senate’s vote on the CLARITY Act, the case for long-term market expansion and the broader macro environment remains intact. Based on the market cycle and improving on-chain structure, Grayscale said the current range presents a buying opportunity and announced a green light for institutional and retail clients to actively increase crypto asset allocations.