{ "id": 61247, "date": "2026-02-03T09:47:32", "date_gmt": "2026-02-03T02:47:32", "guid": { "rendered": "https:\/\/hbbgroup.net\/crypto-bear-market-is-nearing-end-with-60k-as-key-bitcoin-floor-compass-point-analysts-say\/" }, "modified": "2026-02-03T09:47:32", "modified_gmt": "2026-02-03T02:47:32", "slug": "crypto-bear-market-is-nearing-end-with-60k-as-key-bitcoin-floor-compass-point-analysts-say", "status": "publish", "type": "post", "link": "https:\/\/hbbgroup.net\/en_us\/crypto-bear-market-is-nearing-end-with-60k-as-key-bitcoin-floor-compass-point-analysts-say\/", "title": { "rendered": "Crypto bear market is nearing end, with $60K as key bitcoin floor, Compass Point analysts say" }, "content": { "rendered": "
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Further downside would likely require a U.S. equity bear market, analysts say, as bitcoin tests weak support.<\/h2>\n

Feb 3, 2026, 12:47 a.m. <\/span><\/p>\n<\/div>\n

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The crypto market may be closing in on the bottom of its current downturn, but analysts at Compass Point say it will take a broader risk-off event to push bitcoin BTC<\/span><\/svg><\/span>$78,211.52<\/span><\/span><\/span><\/a><\/span> significantly lower.<\/p>\n

\u201cWhile near-term risk remains skewed to the downside, we believe we’re approaching the final innings of the crypto bear market,\u201d analysts Ed Engel and Michael Donovan wrote in a report Monday. \u201cFurther downside would likely require a U.S. equity bear market.\u201d<\/p>\n

Their base case calls for bitcoin to bottom between $60,000 and $68,000, a zone where long-term holders have shown buying conviction in past cycles. \u201cWe see very strong support within this range and our base case assumes BTC bottoms near ~$65k,\u201d they wrote. \u201cOf BTC owned by Long-term Holders (6+ months), 7% was acquired between $60-68k.\u201d<\/p>\n

Bitcoin recently broke below $81,000 to as low as $74,532 over the weekend, a level the analysts say reflects the average cost basis for both bitcoin exchange-traded fund (ETF) investors and the broader market. \u201cBitcoin ETFs recorded $3bn net outflows since 1\/15. With over 50% of ETF AUM now underwater, we see risk that outflows remain elevated while ~$81-83k becomes overhead resistance,\u201d they wrote.<\/p>\n

Read more: Bitcoin can still fall further. Historical data shows $60,000 will be the bottom<\/a><\/em><\/strong><\/p>\n

‘Air pocket’<\/h2>\n

The price range between $70,000 and $80,000 now presents an \u201cair pocket,\u201d with little structural support above $70,000, according to Engel and Donovan. <\/p>\n

\u201cLess than 1% of Long-term Holder supply was acquired within this range,\u201d they said, pointing to the potential for further selling pressure.<\/p>\n

If bitcoin falls through the $60,000\u2013$68,000 support range, the next stop could be around $55,000 \u2014 but only under more extreme conditions. \u201cPast bear markets have bottomed below the average cost basis for all historical buyers,\u201d they said. That level currently sits around $55,000, but \u201cduring the 2022 bear market, it took the combination of an equity bear market and several high-profile crypto bankruptcies to breach BTC’s average cost basis.\u201d<\/p>\n

Read more: Circle\u2019s biggest bear just threw in the towel, but warns the stock is still a crypto roller coaster<\/a><\/em><\/strong><\/p>\n<\/div>\n

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AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to <\/span>our standards<\/a>. For more information, see <\/span>CoinDesk’s full AI Policy<\/a>.<\/p>\n<\/div>", "protected": false }, "excerpt": { "rendered": "

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