Grayscale Confirms Bitcoin's June Low at $58,000, Recommends Buying

Global digital asset manager Grayscale's head of research Zach Pandl emphasized that Bitcoin has already formed its lowest bottom at $58,000 recorded in late June. According to The Block, Pandl analyzed that despite recent short-term challenges including the resumption of U.S. Federal Reserve interest rate hikes and difficulties in voting on the Senate Clarity Act (CLARITY Act), long-term market expansion and macroeconomic conditions remain valid. Grayscale diagnosed the current market phase as a buying opportunity based on this market cycle and improvements in on-chain structure, urging both institutional and individual clients to actively expand their cryptocurrency asset allocation.