Analysis: Market performance is weaker than at the beginning of the 2022 bear market, and BTC may drop to $60,000.

SmartContractAuditor · 2026-02-06T02:37:59+00:00

CryptoQuant releases a report indicating that the current market downturn has deepened, with BTC prices potentially dropping to $60,000. Institutional demand has reversed, retail participation is low, and liquidity is tightening. Long-term demand has significantly declined, with annual spot demand decreasing by as much as 93%.

SmartContractAuditor

2026-02-06 02:37:59

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Odaily Planet Daily reports that CryptoQuant has released a report indicating that on-chain data signals show the current market downturn is deepening and performing worse than the early stages of the 2022 bear market, with BTC prices potentially dropping to $60,000. The next major support zone for BTC is between $60,000 and $70,000. Currently, the crypto market is experiencing widespread structural weakness. Institutional demand has undergone a sharp reversal, with US spot BTC exchange-traded funds shifting from net buying last year to net selling now. Meanwhile, retail participation remains subdued, and Coinbase premium has been consistently negative since mid-October. Liquidity conditions are also tightening. Additionally, long-term demand growth has collapsed significantly, with annual spot demand for BTC decreasing from 1.1 million BTC over the past four months to 77,000 BTC, a decline of 93%.

BTC-9.25%

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