Bitcoin Price May Find Bottom at $53,600, Says CryptoQuant

While the Bitcoin price’s recent rebound from a low of $59k has sparked fresh optimism across the crypto market, CryptoQuant analyst is urging caution. The analyst warned that a confirmed cycle bottom has not yet been reached.

Despite Bitcoin ETF outflows, rising inflation, and escalating US-Iran war tensions, the BTC price has seen a notable 2.5% rise today. However, CryptoQuant stated that the cryptocurrency may be nearing a potential bottom at around $53k.

Bitcoin Price’s Bottom Hasn’t Yet Formed: CryptoQuant

On June 11, 2026, CryptoQuant shared an X post, highlighting the current phase of the Bitcoin price. Although BTC is showing resilience and significant signs of recovery, the analyst warns about a potential downtrend.

Source: CryptoQuant

“Bitcoin's current realized price of approximately $53.6K serves as a valuation bottom candidate,” stated analyst Julio Moreno. According to him, BTC’s realized price has historically acted as a key support level during market corrections. However, he stressed that the level could not be confirmed as its lowest point in this cycle.

Elaborating on his analysis, Moreno explained the Bitcoin price pattern in 2022. At the time of the FTX collapse in November 2022, BTC fell below its realized price before recovering. The crypto is now at around $62k, up by nearly 9% from its realized price. He added,

“Historically, it's a level that would confirm a bottom. It doesn't mean that we necessarily hit it, but it is still a possibility, especially with Bitcoin's demand weakness.”

Bitcoin Demand and ETF Flows Continue to Weaken

Interestingly, the CryptoQuant analyst shed light on the present dynamics of the Bitcoin price. Reportedly, BTC demand declined by 652,000 BTC last week. This marks the largest weekly decline since January 2022. The analyst explained that this drop is driven by the weakness in the demand for both futures and the spot market.

When the Bitcoin price slipped to $59,000 last day, the market witnessed a large wave of liquidations. As the demand declined amid this increased selling pressure, the BTC price is less likely to exhibit a remarkable rebound. Although the BTC crypto is now trading at $62,8000,up from the recent lows, Moreno remains less optimistic about a sustained rally.

According to him, a lasting bull run requires strong demand. His opinion read, “A sustainable recovery will likely require stronger demand, improving ETF flows, and clearer signs of market stabilization.” The analyst added,

In addition to this, the analyst also pointed out the notable plummet in institutional demand. Bitcoin ETFs are currently experiencing significant outflows, with almost no inflows recorded between May 14 and June 10. Farside Investors data unveils that on June 11 alone, the ETFs recorded a significant outflow of $214 million.

Source: Farside Investors

However, an optimistic aspect is that the BTC price staged a rebound despite a few negative factors. The US CPI report was released yesterday, unveiling a massive rise in the inflation rate to 4.2%. Also, the US-Iran conflict continues to worsen. Despite these developments, the crypto is showing resilience. 

Capitulation Signals Are Still Missing

Further, Moreno highlighted another reason for which he remains cautious about the Bitcoin price. He stated that the Bitcoin market is yet to witness a real capitulation event. As noted by the analyst, traders have not been engaged in panic selling as is usually seen in market bottoms.

As per reports, BTC holders have realized losses of around $187,000 coins in a month. But this figure is much lower than the past capitulation events, stated the analyst. This indicates that many are still holding their coins without being forced to sell them. Citing this, he added that the Bitcoin price has formed cycle bottoms only when the market experienced significant selling pressure.