Bitcoin Hasn't Yet Confirmed Bottom as CryptoQuant Cycle Momentum Remains Below Neutral at -30 Points

According to CryptoQuant analysts, Bitcoin has not confirmed a market bottom as key technical indicators remain in negative territory. The Cycle Momentum indicator is currently at -30 points, below the neutral zone (0), indicating the bear market is still ongoing. Analyst Gaah noted that while -30 points is historically a deep zone for cyclical bottoms, the indicator must rise above neutral to confirm a trend reversal.

CryptoQuant analyst Burak Kesmeci identified $72,100 as critical resistance, stating Bitcoin must break above this level to begin an upward trend. The range of $58,700 to $53,700 serves as important support, with potential downside to $47,400 if breached.