Analyst warns BTC could drop further after worst June since 2022
Bitcoin may have more downside after closing June below its 200-week moving average but still above its realized price. June’s 20.5% drop to $58,526 was its worst monthly performance since June 2022. PlanB argues this setup has not yet marked a true bear-market bottom, since past cycle lows fell below realized price; he sees a possible decline toward $52,000. Realized price reflects the average on-chain cost basis of all coins and is often a key bear-market support level. Some analysts say the current range near $60,000 looks like a potential bottom zone, with stronger support around $55,000 if weakness continues. Others note prior bear-market bottoms often formed in midterm election years, suggesting a possible cycle low later this year.
