[Analysis: Market performance weaker than early 2022 bear market, BTC may drop to $60,000] Odaily Planet Daily News - CryptoQuant released a report indicating that on-chain data signals show the current market downturn is deepening and performing worse than the early stages of the 2022 bear market. BTC price may trend toward $60,000. The next major support zone for BTC lies between $60,000 and $70,000. Currently, the crypto market is experiencing widespread structural weakness. Institutional demand has undergone a sharp reversal, with U.S. spot BTC exchange-traded funds shifting from net buying last year to net selling, while retail participation remains sluggish. Coinbase premium has consistently been negative since mid-October. Liquidity conditions are also tightening. Furthermore, long-term demand growth has collapsed significantly, with annual spot demand growth for BTC dropping from 1.1 million BTC to 77,000 BTC over the past four months, a decline of 93%.