{"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\/vi\/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":"

Further downside would likely require a U.S. equity bear market, analysts say, as bitcoin tests weak support. Feb 3, 2026, […]<\/p>","protected":false},"author":5,"featured_media":61248,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220],"tags":[],"class_list":["post-61247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tien-dien-tu"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/61247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/comments?post=61247"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/61247\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media\/61248"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=61247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=61247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=61247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}