Bitcoin's price is nearing a crucial level that analysts believe marks the bottom of a bear market, and according to onchain analytics platform CryptoQuant, it's only $5,000 away from this zone.
The aggregate realized price of Bitcoin, which reflects the average cost basis of various investor cohorts, currently sits at around $53,300. Historically, every time Bitcoin has fallen below its realized price during a bear market, it has marked the best investment opportunity for traders.
PlanB, the pseudonymous creator of the Stock-to-Flow price models, has listed a drop below the realized price as one of two key conditions that must be met to secure a trend reversal. He believes there is a >50% probability that Bitcoin will go lower, potentially below $61k or its realized price.