Bitcoin Nears $60,000 Before Rebound, Market Remains Bearish

Bitcoin's recent dip to nearly $60,000, followed by a rebound, suggests a temporary pause rather than a reversal in trend. According to NS3.AI, metrics like Relative Unrealized Loss and wallet distribution indicate a bearish market, with retail investors accumulating as widespread selling continues. Network activity reveals an increase in new address creation, showing ongoing interest. However, key support levels at $63,000 and $55,500 will be crucial for Bitcoin's short-term trajectory.