Summary of this article
Bitcoin trades near USD 63,000 as demand weakens and momentum fades.
CryptoQuant identifies USD 53,600 as potential valuation floor amid weakness.
Recovery needs stronger demand, ETF inflows, and investor capitulation.
Bitcoin is under pressure again as the crypto market turns weak, with prices slipping and overall momentum fading in recent sessions. The market has seen a steady pullback as trading activity slows and recovery attempts lose strength.
Bitcoin is trading around the USD 63,000 level, up about 3 per cent in the last 24 hours, but has largely been stuck in a narrow range between USD 60,000 and USD 63,000 over recent sessions. Over the past month, the cryptocurrency has fallen about 21 per cent and is now down nearly 50 per cent from its all-time high of USD 126,198, according to CoinMarketCap.
Other major cryptocurrencies are also under pressure, with Ethereum down around 66 per cent from its peak of USD 4,953 to about USD 1,658, while Binance Coin has dropped nearly 56 per cent from its high of USD 1,370 to below the USD 600 level.
Is Bitcoin headed toward USD 53,000 Mark
The key concern now in the market is whether Bitcoin is approaching a bottom after the recent correction. According to on-chain analytics firm CryptoQuant, the price could find a bottom around USD 53,600, while also noting that demand remains weak and a sustained recovery has not yet formed.
Bitcoin demand has weakened, with one-year apparent demand growth turning negative at its fastest pace since February 2024, on-chain data shows.
CryptoQuant head of research Julio Moreno told crypto news platform The Block that the USD 53,600 level represents bitcoin’s realised price, reflecting the average on-chain cost basis of all market participants. He added that Bitcoin has historically tended to bottom at or slightly below the realised price during major market cycles.
Moreno said that the realised price level is often seen as a key reference point in market cycles. He said it can signal a potential bottom, although it does not guarantee Bitcoin will reach that level. He added that with weak demand conditions, the possibility of such a scenario remains open.
In the past 30 days, investors have recorded losses of around 187,000 BTC, which is lower than the 400,000 BTC seen when Bitcoin first dropped below USD 60,000 in February 2026 and significantly below the 1.2 million BTC during the FTX-led market bottom in November 2022.
Cryptoquant believes that until total demand stabilises, ETF flows recover, and realised losses reach capitulation-level peaks, the current price should be viewed as a potential valuation floor rather than a confirmed cycle bottom.
