CryptoQuant: BTC may have formed a local bottom

Bitcoin may have formed a local bottom, according to an analysis by CryptoQuant. The firm noted that buying pressure from investors holding between 100 and 1,000 BTC, as well as those with more than 10,000 BTC, could support this view. However, CryptoQuant cautioned that it is difficult to confirm a trend reversal, as investors holding between 1,000 and 10,000 BTC are still selling.