Crypto Market Bottom: Institutions Offer Contrasting Views

Three leading crypto industry research institutions have released reports discussing whether the cryptocurrency market has bottomed out.

The institutions are Bitwise, Galaxy Digital, and NYDIG. Each report presents a different view on the matter.

Galaxy Digital analyzed Bitcoin's 17-year price action history and found that only four indicators fully meet the criteria for a market bottom, while two partially meet them. The remaining seven have not triggered bottoming signals. According to Galaxy Digital, the current bottom range for this Bitcoin cycle is between $30,000 and $54,000.

NYDIG also adopts a multi-indicator comprehensive analysis framework, comparing the current market situation with historical cycles. They believe that the various indicators are very close to the extreme range of historical lows but have not yet seen widespread panic selling. They introduce the variable that institutional fund inflows have changed the logic of the Bitcoin cycle from the ground up.

Standard Chartered Bank is more optimistic, identifying $59,000 as the bottom of this round of the market. Their two main logics supporting this view are the potential U.S.-Iran diplomatic agreement and the highly anticipated SpaceX IPO.