BTC trades 13% above its realized price, a historical bottom indicator, but ETF outflows signal fading demand.
Bitcoin dipped below $60,000 last week, approaching its realized price of $53,600, a level historically tied to market bottoms. The realized price reflects the average cost basis for all holders and has marked structural rebounds in past cycles, including the 2022 FTX-driven selloff.
Current trading near $61,680 remains 13% above the realized price, but on-chain and derivatives data show shrinking speculative and spot demand. CryptoQuant analysts noted that while the price may be nearing a bottom, a confirmed reversal could take time.
ETF outflows have accelerated, underscoring weak demand. Without a pickup in buying activity, a sharp recovery appears unlikely in the near term.