CryptoQuant: Bitcoin tests key support at $62,000; $54,000 may be the final line of defense in this round.

According to Huoxun Finance, analysts point out that Bitcoin is retesting the lows near $62,000. The current 7-day net realized loss is approximately $7 billion, higher than the lows of February this year, but lower than the peak of $14 billion during the winter panic. The current Bitcoin price has fallen below the cost price of approximately $76,000 for short-term holders. If it continues to decline, the main support levels are the network average realized price of approximately $54,000 and the cost price for long-term holders of approximately $49,000. These two ranges historically correspond to areas of total capitulation and cyclical bottoms. As long as Bitcoin holds above $54,000, the market will not enter a phase of total capitulation; however, if it falls below and continues to trade below the lows of February this year, it may further test the final defense line of this cycle near $54,000.