Analysis: Bitcoin Shows Signs of a Turning Point, but the Bottom Remains Unclear

Odaily News CryptoQuant's tracked on-chain indicators show that the cost basis for long-term holders is approaching the breakeven line, a level that has historically preceded bear market bottoms. Following the release of strong non-farm payroll data, traders are awaiting the delayed January inflation figures; the prospect of higher interest rates for a longer duration could trigger another decline in cryptocurrency prices.

Some viewpoints suggest that panic selling may be nearing its end, based on market sentiment being in the extreme fear zone and significant accumulation activity observed near the $60,000 support level.