Has Bitcoin bottomed for this cycle? Analysts say 'not yet'

Some Bitcoin analysts point to a deeper downside risk, while others believes they can see the early signs of a recovery.

Bitcoin is trading in a market that’s getting harder to define.

Hovering around $64,000 at the time of writing, Bitcoin is down by almost 50% from its cycle peak. That's a much shallower draw down than previous cycles, but the bull run this time around did not reach the same heights.

The 2025 rally was driven by exchange-traded fund (ETF) inflows, post-halving momentum and renewed institutional demand, pushing the market to a new all-time high of more than $126,000 in October 2025.

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