Bitcoin's 'Ultimate Bottom' Around $55,000, Predicts CryptoQuant

On-chain analysis firm CryptoQuant released its weekly market report on December 12, indicating that Bitcoin (BTC) is yet to reach the bottom of the current bear market.

Firstly, regarding the current situation, on February 5, the price of Bitcoin fell by 14% to $62,000, and the total realized net losses (total losses confirmed at the point of sale) reached $5.4 billion (approximately 820 billion yen).

This loss is the largest since March 2023, when it hit $5.8 billion, and even surpasses the $4.3 billion loss recorded immediately after the major exchange FTX went bankrupt in November 2022.

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