Bitcoin May Have Found Bottom at $60,000, Say Saylor and Luis

Michael Saylor, a prominent Bitcoin proponent, believes that the cryptocurrency may have found its bottom at $60,000. Speaking on CNBC, he suggested that Bitcoin is entering what he calls the 'spring phase', after months of weakness.

Saylor pointed out that Bitcoin peaked near $125,000 in October before falling to around $60,000. He now believes that the market has decent support at these levels and will rally from here.

Crypto analyst Crypto Coach Luis agrees with Saylor's assessment. According to Luis, several signals are lining up to suggest a bottom is forming:

Weekly RSI divergence: Bitcoin is showing a divergence that has historically appeared around major market bottoms.

Volatility falling: Volatility has dropped to accumulation levels, which means retail interest is fading while longer-term investors remain active.