CryptoQuant analyst: BTC's medium-to-long-term bottoming range may be around $59,000; the recent rebound may not be the core of market stabilization.

CoinFeed reported on May 2nd that CryptoQuant analyst Axel Adler Jr. stated in an article on the X platform that his Adjusted Realized Price Bands model, calibrated based on Bitcoin's current circulating supply, indicates that Bitcoin's current drop to the key $59,000 level is the start of a true medium- to long-term bottoming process. This bottoming process will not be short-term and will not be completed within one to two weeks; the baseline scenario predicts it will take approximately six months. Adler Jr. emphasized that although Bitcoin has recently risen, the core driver of market stabilization is not sentiment repair or a localized rebound, but rather the return of long-term real demand. In other words, a true bottom can only be established when the market begins to re-price future value and spot buying continues to recover.