"Durable market bottom" confirmed near $60,000 for Bitcoin

Grayscale Research, the institutional Bitcoin ETF issuer, said a “durable market bottom” is forming around $60,000. The firm points to a recent price reversal and strong demand below $70k as evidence that Bitcoin durable market bottom conditions are holding. It argues the last month’s ~20% Bitcoin rally helped turn sentiment, while blockchain data also shows resilient behavior. Grayscale attached charts citing Glassnode-style on-chain metrics and said the key change is selling pressure becoming exhausted—so declines may still happen, but typically look “tamer” than earlier February or late-2025 sell-offs. Grayscale’s “durable market bottom” framework does not mean Bitcoin can’t trade below $60,000. Instead, it describes a cycle stage where long-term investors return to accumulation. The firm highlights three indicators: (1) recovering transaction volumes, (2) wallet accumulation trends, and (3) whale behavior—whales holding 1,000+ BTC. According to the report, whales started the late-2025 bear move with heavy selling, but recent activity shows more buying than selling, supporting seller exhaustion. Trader reaction on X was mixed. Some criticized Grayscale for calling a bottom after a local peak. Others note the call is plausible when bulls are already strong. Still, some analysts warn of a potential bull trap and suggest Bitcoin could fall toward $52k before any durable recovery. Bottom line for traders: the Bitcoin durable market bottom narrative is bullish for near-term support, but disagreement and downside scenarios keep volatility elevated.