On chain indicators show that Bitcoin may be close to bear market bottom

CryptoQuant data shows that the holding cost of Bitcoin for long-term holders is close to the breakeven line, which historically typically occurs before bear market bottoms. After the release of strong non farm payroll data, traders are paying attention to the postponed January inflation data, and the expectation of sustained high interest rates may lead to further price declines. Some believe that panic selling may be nearing its end, and market sentiment is in an extreme fear zone, with a large amount of fundraising activity occurring near the $60000 support level.