Grayscale says Bitcoin has established a “durable bottom” near $60,000 and is likely to hold that area for the near term. The firm pointed to a recent price reversal, roughly a 20% rally over the past month, and supporting on‑chain indicators as evidence the market is less prone to a sharp decline right now.
In a post on X, Grayscale attached a Glassnode chart and highlighted improving blockchain signals: stronger demand below $70,000, recovering transaction volumes, continued wallet accumulation, and changing whale behavior. Addresses holding more than 1,000 BTC, which fueled heavy selling late last year, are now net buyers, Grayscale said—reducing the odds of renewed downward pressure.
By “durable bottom” Grayscale does not mean Bitcoin can’t slip under $60,000, but that a structural shift appears to have occurred: sellers look exhausted and long‑term holders are re‑accumulating. That suggests any future drops would likely be milder than the steep sell‑offs seen earlier this year or in October 2025.
Market reaction on X was mixed. Some users criticized calling a bottom at elevated prices, while others agreed the on‑chain data justify the view. Skeptics warn the setup could be a bull trap; a subset of analysts still see a possible pullback toward about $52,000 before a sustained recovery.
Grayscale’s outlook is conditional: if accumulation continues and key on‑chain metrics keep improving, the $60,000 area should act as a durable floor. If selling resumes or those indicators reverse, the assessment would need to be revisited.