CryptoQuant analyst Bitcoin may have reached a local bottom positive momentum to further strengthen

According to analysts at CryptoQuant, the price of Bitcoin may have found a local bottom as major sellers have “exhausted” their selling power. The CryptoQuant Weekly report on Thursday indicated that the price of Bitcoin fell to a low of around $55,000 last Wednesday, resulting in the largest actual losses for digital asset holders since 2024. Holders lost $2.5 billion within two days last week, while profit-taking remained insignificant compared to March. Significant losses are usually a sign of sellers giving up and are related to reaching the bottom of the price.