Major crypto research firm and ETF issuer Grayscale says Bitcoin has formed a “durable bottom” near $60,000 and is likely to hold that level. The firm pointed to a recent price reversal, a roughly 20% rally over the last month, and on‑chain data showing strong demand below $70,000 as evidence the market is less likely to fall sharply in the near term.
Grayscale shared the view on X (formerly Twitter) and attached a Glassnode chart highlighting the supportive blockchain signals. Beyond the spot price, Grayscale noted recovering transaction volumes, wallet accumulation trends, and shifting whale behavior as signs that selling pressure has largely eased.
What Grayscale means by a “durable bottom” is not that Bitcoin cannot dip below $60,000, but that a structural change has occurred: sellers appear exhausted and long‑term buyers are re‑accumulating. That implies any future declines would likely be milder than the sharp drops seen earlier this year or in October 2025. Specifically, Grayscale says whales—addresses holding over 1,000 BTC that sparked heavy selling in late 2025—are now net buyers rather than net sellers, which supports the thesis of reduced downward pressure.
Reaction on X was mixed. Some users criticized Grayscale for declaring a bottom when prices are already elevated, while others agreed the data justify the call. Skeptics warn the current setup could be a bull trap; some analysts predict a possible pullback toward $52,000 before a sustained recovery.
Grayscale’s assessment hinges on continued accumulation and improving on‑chain metrics. If those trends persist, the firm believes the $60,000 area will serve as a durable market floor; if selling resumes or key metrics reverse, the outlook could change.