{"id":53226,"date":"2026-07-08T16:18:33","date_gmt":"2026-07-08T21:18:33","guid":{"rendered":"https:\/\/bitcoinmagazine.com\/?p=53226"},"modified":"2026-07-08T16:18:38","modified_gmt":"2026-07-08T21:18:38","slug":"bitcoin-slips-to-62000-paring-rebound","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-slips-to-62000-paring-rebound","title":{"rendered":"Bitcoin Slips to $62,000, Paring Rebound as CryptoQuant Sees Room Higher"},"content":{"rendered":"
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Bitcoin traded near $62,000 today, surrendering part of a rebound that had carried it to $64,000 from last week’s bear-market low of $57,700. The pullback holds the price above the $60,000 level<\/a> that CryptoQuant<\/a> treats as support, though it trims a recovery of some 11% off the bottom.<\/p>\n\n\n\n

The dip came as CryptoQuant’s Weekly Crypto Report, published today and shared with Bitcoin Magazine<\/em>, argued the backdrop skews toward further gains. Head of Research Julio Moreno framed the bounce as a bear-market recovery rather than a trend reversal, with one central caution: the firm’s Bull Score Index, an aggregate of on-chain, market, and valuation conditions on a 0-to-100 scale, sits at 20, inside the bearish zone at or below 40 and short of the 60 reading tied to a sustainable bull market<\/a>.<\/p>\n\n\n\n

The report’s bullish case rests on seasonality. Across the past decade, July has ranked among Bitcoin’s stronger months, closing higher in most years shown. <\/p>\n\n\n\n

The pattern held in the down-cycles<\/a> of 2018 and 2022, when Bitcoin gained some 20% and 17% during the month as the broader trend stayed weak. Entering July 2026 off a bear-market low, the report said, that pattern skews near-term risk toward gains.<\/p>\n\n\n\n

Bitcoin demand is turning<\/h2>\n\n\n\n

Demand has turned. The 30-day change in total demand \u2014 spot plus perpetual futures \u2014 collapsed to some -650,000 BTC in early June, the deepest negative reading since 2022, as Bitcoin fell toward $58,000. <\/p>\n\n\n\n

It has since recovered toward neutral, with speculative futures demand crossing into positive territory and spot selling easing to its slowest pace since mid-May. A return to positive territory, the report said, would confirm a re-igniting demand engine.<\/p>\n\n\n\n

U.S. buyers show signs of stabilizing. The Coinbase Premium Index, a proxy for U.S. spot demand, sank below zero in early June as Bitcoin bottomed near $57,000, one of its weakest readings of the year.<\/p>\n\n\n\n

The premium remains under zero, though its path has tracked Bitcoin’s climb off the low and points to steadier institutional appetite.<\/p>\n\n\n\n

Valuation added a floor. The on-chain trader unrealized profit\/loss margin, for coins held one to three months, dropped below -24% in early June, under the -12% threshold the firm treats as undervalued. Readings at such extremes tend to mark local bottoms as short-term holders capitulate, the report said, and the margin has recovered as price bounced off $57,700.<\/p>\n\n\n\n

Today’s slip to $62,000 underscores the report’s own hedge. CryptoQuant reads the market as off its lows, with improving internals but a bearish regime intact. <\/p>\n\n\n\n

A durable rally, it concluded, would require the Bull Score Index to climb above 60. Until then, the firm treats the move as a recovery within a bear market, not a reversal \u2014 a framing this week’s give-back does little to challenge.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin slipped to around $62,000 after rebounding from last week’s $57,700 low, while CryptoQuant says improving demand, seasonality and valuation support further gains, though its bearish Bull Score Index suggests the move remains a bear-market recovery rather than a full trend reversal.<\/p>\n","protected":false},"author":3817,"featured_media":52767,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[76,132,6601],"class_list":["post-53226","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-bitcoin","tag-bitcoin-price","tag-cryptoquant"],"author_data":{"id":3817,"name":"Micah Zimmerman","nicename":"micahzimmerman","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/11\/Micah_Zimmerman_Author_Image.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/06\/Bitcoin-Price-Falls-to-62000-as-Hawkish-Fed-Shift-Raises-Risk-of-Deeper-Pullback.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/53226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3817"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=53226"}],"version-history":[{"count":1,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/53226\/revisions"}],"predecessor-version":[{"id":53227,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/53226\/revisions\/53227"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/52767"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=53226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=53226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=53226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}