Bitcoin traded near $62,838 as attention shifted to CryptoQuant’s realized price level at $53,600. The firm described that area as an important valuation support zone, but stopped short of calling it a confirmed cycle bottom.
Wu Blockchain shared CryptoQuant’s latest view on valuation. According to the report, Bitcoin is still trading about 9% above its realized price, placing the asset close to a range that has carried weight in past market corrections. Realized price is commonly used as the average acquisition cost of coins in circulation, so traders often watch it closely when the market pulls back.
Demand contracts as ETF flows turn negative
While valuation metrics point to support, demand data moved in the opposite direction. CryptoQuant said overall Bitcoin demand fell by 652,000 BTC last week. At the same time, the 30-day ETF demand figure dropped to -74,000 BTC.
Those numbers suggest weaker buying activity across major market channels. Bitcoin has managed to rebound, but recovery attempts are still meeting resistance as broad participation remains soft.
Loss data does not yet match past capitulation phases
CryptoQuant also looked at realized losses among holders. The report said recent realized losses remain below the levels recorded during historical capitulation periods. That leaves the bottom signal incomplete. In practical terms, $53,600 is being treated as a candidate valuation floor, not a confirmed market low.
Price pushes through $61.7K and approaches psychological resistance
In the latest session, Bitcoin first faced selling pressure near $61,700 and then slipped toward support around $61,000. Buyers returned quickly after that test, and repeated rebounds pointed to active demand near lower levels.
Bitcoin then broke above $61,700, gained momentum, and moved up toward the $62,400 area. After the breakout, price held above the former resistance zone and entered consolidation. Later in the session, higher lows appeared, signaling an improvement in the short-term structure as Bitcoin moved closer to the $63,000 mark.
Market capitalization rose with the recovery, while 24-hour trading volume fell about 21%. Traders are now watching whether Bitcoin can hold its rebound and extend above $63,000 even as demand indicators remain under pressure.