According to CryptoQuant analyst Axel Adler Jr., Bitcoin’s recent pullback to around $62,000 has expanded market losses, with the 7-day net realized loss rising to approximately $7 billion—higher than the market low in February this year. The current price has fallen below the average cost basis of short-term holders at around $76,000, leaving most short-term investors in a loss position. Key support levels lie at the network’s average realized price of approximately $54,000 and the cost basis of long-term holders at around $49,000. The analysis suggests that if Bitcoin remains above $54,000, the market is experiencing a normal correction; however, if it breaks below and sustains levels below February’s low, panic sentiment could intensify.
CryptoQuant Analyst Identifies $54,000 as Key Bitcoin Support Level
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Summary
Bitcoin’s key support level is now around $54,000, according to CryptoQuant analyst Axel Adler Jr. The price recently dropped to $62,000, with the 7-day net realized loss reaching $7 billion, surpassing the low seen in February 2026. Short-term holders are currently underwater as the price fell below their average cost of $76,000. The $54,000 support level corresponds to the network’s average realized price, while long-term holders’ average cost sits at $49,000. If Bitcoin remains above this support level, the correction remains within normal parameters; a break below could trigger panic. Resistance signals are also emerging near $76,000.
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