Bitcoin Plummets Over Trillion Dollars, Multiple Indicators Suggest Bottom May Still Take Months to Confirm

CoinFeed June 26 news, according to Bloomberg, Bitcoin's market value has shrunk by about $1.3 trillion since last year's high, with the price falling below $60,000. Several veteran investors believe it is now close to the "bottom range" of previous cycles, but the true bottom may take until late summer or even September to form. Early investor Bruno Ver expects Bitcoin may dip to around $50,000; CryptoQuant's estimated "realized price" of Bitcoin is about $53,400, considered a historically reliable bottom reference; Glassnode's multiple models suggest a potential bottom range of $37,000 to $60,000. Meanwhile, spot Bitcoin ETFs continue to see net outflows, retail funds are shifting to AI concept stocks, Strategy Inc.'s financing model is under pressure, and the Fear and Greed Index has dropped to "extreme fear", indicating market sentiment remains pessimistic.