Crypto bear market is nearing end, with $60K as key bitcoin (BTC) floor, Compass Point analysts say
Compass Point analysts suggest the crypto bear market is nearing its end, projecting Bitcoin's bottom between $60,000 and $68,000.Summary
Analysts at Compass Point believe the crypto bear market is approaching its final stages, stating that a significant further drop in Bitcoin's price would likely require a broader U.S. equity bear market. Their base case forecasts Bitcoin bottoming out between $60,000 and $68,000, citing strong buying conviction from long-term holders in that range during past cycles.
Bitcoin recently dropped below $81,000, with the $74,532 level reflecting the average cost basis for ETF investors and the broader market, leading to concerns about elevated outflows and overhead resistance near $81-83k. The analysts view the $70,000 to $80,000 range as an "air pocket" due to low accumulation by long-term holders.
If the critical $60,000–$68,000 support zone is breached, the next potential low is around $55,000, which represents the average cost basis for all historical buyers, though reaching this level historically required extreme conditions like an equity bear market combined with major crypto bankruptcies.
(Source：CoinDesk)