Bitcoin Bottom In? Analyst Defends $60K Level as Fed Liquidity Surges
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Bitcoin appears to have formed a cycle bottom around $60,000; price has held that region for 8+ weeks with technical and on‑chain signals aligning (Fibonacci, mining cost, hash ribbon). Rising liquidity and macro support: Fed balance sheet ≈ $6.67T (+$18B WoW); analysts (Astronomer, Mark Chadwick) say improving conditions bolster crypto risk assets and adoption, implying upside potential for price.
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- Bitcoin holds $60K, forming strong support and a potential cycle bottom.
- Analyst Mark Chadwick sees improving macro conditions supporting risk assets.
- Fed balance sheet at approximately $6.67T (+$18B WoW) signals rising liquidity.
A growing number of market commentators are reinforcing the idea that Bitcoin may have already established a cycle bottom at around $60,000.
Crypto analyst Astronomer on X has doubled down on his earlier call, arguing that the $60K region marked a decisive low for Bitcoin, with price action holding firm for over eight weeks despite persistent bearish expectations.
Bitcoin $60K Holds Strong, Technical and On-Chain Signals Align
The analyst says his call that Bitcoin bottomed around $60K wasn’t based on just one signal, but several factors lining up. These included Fibonacci levels, mining cost data, and hash ribbon signals, all sug…
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