Bitcoin Is Down Bad, But Hasn't Yet Hit Its 'Ultimate Bear Market Bottom': Analysts
CryptoQuant’s latest report indicates Bitcoin’s bear market bottom is likely around $55,000, citing the realized price as a historical support level during past bear markets. The report emphasizes that bear market lows take time to form, often persisting for four to six months near the realized price. CryptoQuant’s bull-bear market cycle indicator currently remains in the “bear” phase and has yet to enter “extreme bear,” which typically signals the start of a bottoming phase. Other analysts echo this caution, with Galaxy’s research head and Standard Chartered both suggesting Bitcoin could fall further—possibly toward $50,000—before rebounding. A majority of predictors on the Myriad prediction market expect a drop to $55,000 before any major rally. Despite these forecasts, Bitcoin recently saw a minor 1.6% uptick to about $69,724 but remains down 27% over the past month and roughly 45% from its October all-time high of $126,080.
