According to CryptoQuant, Bitcoin is showing signs of macro bottom formation this week, with on-chain metrics indicating long-term holders are now carrying losses greater than the broader market—a pattern historically observed at major cycle lows. Bitcoin is trading at $63,362, down nearly 2% over the past week and roughly 50% below its October peak of $126,080.
Bitcoin's 90-day correlation with gold has shifted from -0.9 in early 2026 to around +0.7, according to CryptoQuant CEO Ki Young Ju. The move signals a return to "digital gold" levels, suggesting investors are again pricing Bitcoin as a scarce, non-sovereign asset that can hedge against currency debasement and geopolitical uncertainty.
