Major Bitcoin Demand Drop Sparks Debate Over Cycle Bottom Formation

🚀 Bitcoin (BTC) remains above $62,000 after a 2.3% increase, but analysis indicates it may be nearing a potential bottom, trading over 15% above its Realized Price of $53,600.

📉 Demand conditions are weak, with a significant decline of 652,000 BTC in total Bitcoin over the past week and record-low ETF demand, suggesting institutional buying is slowing.

🔍 Analysts are divided on Bitcoin's trajectory, with some predicting further declines to the $40,000 to $48,000 range, citing ongoing capital outflows and realized losses as indicators of market weakness.