CryptoQuant says Bitcoin bottom may be around $53600

CryptoQuant suggests that Bitcoin may form a bottom around $53600, which is the current realized price of Bitcoin. Bitcoin previously fell to $59000, about 0.09 from achieving a price of $53600, before rebounding to $62100. CryptoQuant pointed out that the demand environment for Bitcoin is still extremely unfavorable, and the recovery of the bull market requires a rebound in demand. Currently, on chain data has not shown this condition.