Bitcoin price indicators show that the market may have reached a stage bottom before the price falls below $60,000. A study from CryptoQuant shows that the "Network Value to Transaction Golden Cross" (NVT-GC) indicator has already shown price bottom signals three times in 2024. Although the market is cautious about the medium-term and short-term trends, long-term expectations still provide reasons for a rebound.

Key Points

- Bitcoin prices are expected to fall below $60,000 before a small increase.

- The NVT-GC indicator has shown three bottom signals in 2024, suggesting the possibility of a price rebound.

- NVT-GC below -1.6 points is considered to be too low and in the bottom area.

- Previous bottom signals have brought price increases of 78% and 23%.

- Despite the expectation of a short-term decline, the long-term price is bullish.

- The market is generally worried that Bitcoin may fall below the $60,000 support level.

- Experts point out that the low point may be tested again in the short term before the price reverses comprehensively.