Bitcoin Price Faces Growing Downside Risk Amid Tightening Liquidity and Weakening Demand

Bitcoin's price continues to face challenges as global liquidity conditions tighten and institutional demand weakens.

The cryptocurrency is currently trading at around $67,880, down 1.12% in the last 24 hours, according to CoinMarketCap.

Analyst Willy Woo has indicated that several of his on-chain valuation models are converging around a potential market bottom zone of $45,000.

This level represents the floor of the Cumulative Value Coin Days Destroyed indicator, which measures the movement of old coins on the blockchain.

In previous bear markets, this figure has represented the bottom before the start of a new uptrend.