Bitcoin Is Getting Closer to the Bottom, But Demand Is Falling: CryptoQuant

BTC

BTC/USDT

$83,995.19

-0.53%

$83,995.19

-0.53%

(24s)

24h Volume

$21,522,179,613.21

24h H/L

$84,942.45 / $82,874.93

Change: $2,067.52 (2.49%)

Long/Short

57.2%

Long: 57.2%Short: 42.8%

Funding Rate

+0.0021%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$83,938.02

▼ -0.56%

Volume (24h): -

Resistance Levels

Resistance 3$94,549.91

Resistance 2$86,798.28

Resistance 1$84,048.83

Price$83,938.02

Support 1$83,209.30

Support 2$80,398.57

Support 3$77,001.87

Pivot (PP):$84,075.87

Trend:Uptrend

RSI (14):63.7

Decrypt Editorial

(05:47 PM UTC)

1 min read

Bitcoin moved closer to its realized price, or the average cost basis, for market participants last week as it fell below $60,000.
The marker has typically been a key structural point for market bottoms, CryptoQuant said.
However, demand is fading and not ready to support price growth, highlighted by significant outflows from Bitcoin ETFs.

As Bitcoin fell below $60,000 last week for…