Analyst: Key support level of $54000 below Bitcoin, falling below it will enter the 'comprehensive surrender' stage BlockBeats News: On June 5th, CryptoQuant analyst Axel Adler Jr posted that Bitcoin has recently fallen back to around $62000, and the market's losses continue to expand. On chain data shows that the current 7-day net realized loss has risen to about 7 billion US dollars, which is higher than the market low point in February this year. However, compared to the peak loss of approximately $14 billion during the previous bear market and winter market panic phase, the current market sentiment has not yet reached a state of complete surrender. From the perspective of cost structure, the current price of Bitcoin has significantly fallen below the holding cost of approximately $76000 for short-term holders, indicating that most short-term investors are already in a floating loss state. If the market weakens further, the key support areas below are mainly concentrated around the average realized price of about $54000 across the entire network, as well as the long-term holder cost price of about $49000. These two price ranges usually correspond to the value support areas after deep market adjustments in the cycle. Analysis suggests that as long as Bitcoin remains above $54000, the market still belongs to the normal cyclical pullback category and has not yet entered the stage of comprehensive surrender. But if the price falls below and continues to operate below the low point in February this year, market panic may further intensify, and around $54000 may become the most important final line of defense in this round of adjustment. [Original link]