CryptoQuant is calling a “crypto winter” bottom at $56,000.
That’s a 55% drop from the October high.
BTC is already around $87K, down ~30%.
Their reasoning:
• Demand looks exhausted
• ETFs turned net sellers
• Mid-size whales (100–1000 BTC) stopped buying
• Funding rates at Dec 2023 lows
• On-chain pattern looks similar to 2018
Only difference?
👉 Much larger user base this time — which could mean a higher bottom… or a deeper drawdown with more holders.
The ETF + election + corporate demand wave may be over.
What comes next is still unclear.
Market at a crossroads.
