Axel Adler Jr: Bitcoin needs to fall to 59,000 before a bottom can be formed

According to CryptoQuant analyst Axel Adler Jr, the adjusted realized price range model shows that Bitcoin would need to fall to the key level of $59,000 before a mid- to long-term bottom could form, and it is estimated to take about 6 months to complete. He pointed out that market stabilization relies on the return of long-term genuine demand, rather than on sentiment recovery or partial rebounds.