Glassnode co-founder: Bitcoin's bottom is most likely between $46,000 and $54,000.

CoinFeed reported on June 7th that, regarding recent Bitcoin price movements, Rafael, co-founder of Glassnode, pointed out on the X platform on June 5th that Bitcoin's current price is in the $62,000 range, having fallen nearly 50% from its all-time high, with a 24% drop over the past month. The price has crossed the upper range of its pricing framework and entered a valuation cluster area where historical bottoms have occurred. This is the first time Bitcoin has fallen below the median holder's break-even level since December 2022. It is currently in a broader support range: the median realized price is around $64,100, and the 200-week moving average is around $61,700. Historically, Bitcoin has only spent about 7% of its time below this median MVRV level.