Cryptocurrency Traders Look for Bitcoin Bottom -- Market Talk

Dow Jones04:09

1609 ET - Analysts covering cryptocurrency are speculating over whether or not bitcoin has found a bottom at roughly $60,000. "Whether we have hit bottom this time depends on the regulatory outlook and on how large leveraged BTC holders perform in the short run," says Zach Pandl of Grayscale Research in a note. Some metrics suggest that bitcoin is undervalued, well below its long-term average, says Pandl. He adds that what could turn bitcoin around quickly is not only how entities like Strategy "stabilize their balance sheets," but the passage of the Clarity Act in the Senate. "We believe that current price levels offer an opportunity for investors with long-term investment horizons to consider dollar-cost averaging their Bitcoin purchases," says Pandl. (kirk.maltais@wsj.com)

(END) Dow Jones Newswires

June 09, 2026 16:09 ET (20:09 GMT)

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