Bitcoin is setting up ‘meaningful floors’ in $60K–$70K range: Analyst
Bitcoin’s $60,000–$70,000 cost-basis cluster hints at a bottom, but a bearish daily flag keeps BTC exposed to a deeper selloff toward $50,000.
Bitcoin (BTC) showed signs of bottoming inside the $60,000–$70,000 range on Wednesday, according to onchain data shared by a quant analyst.
Key takeaways:
Nearly 20% of BTC supply now sits between $60,000 and $70,000, strengthening the case for a Bitcoin price floor.