Grayscale Research: Bitcoin Bottomed at $58,000, Green Light for Entry

Grayscale's Head of Research, Zach Pandl, stated at the Avalanche Summit that Bitcoin's late-June low of $58,000 marks the bottom of the current bear market. Grayscale has issued a 'green light' for clients to allocate to crypto assets, citing that long-term structural trends, market cycle positioning, and macroeconomic conditions have all met their criteria. Pandl also highlighted Zcash (ZEC) as an undervalued asset that provides necessary privacy features for the digital currency ecosystem, particularly in the age of AI.