Based on CryptoQuant's analysis, Bitcoin's market conditions suggest a bearish trend in the next 24 hours. Short-term holders selling at their break-even price, fragile trader sentiment, increased spot inflows indicating large holders selling, and high liquidations of long positions in Bitcoin and Ethereum all contribute to a high level of market instability and selling pressure. As a result, Bitcoin's price is likely to drop further, with a predicted range of $58,000 - $62,000, indicating a bearish outlook for the next 24 hours.
